In the past 24 hours, John Adams has received new internal emails from the Federal Treasury Department via a Freedom of Information request. These emails confirm that the Adams Report published in October 2022 is "substantially correct".

This is a devastating blow to ASIC's credibility who at the same time was suggesting that the Adams Report is simplistic and not worth the paper it is written on.

Treeasury's independent confirmation of the analysis and findings of the Adams Report sets the stage for ASIC to be fully exposed in the second half of 2023 when public hearings commence as part of the ASIC inquiry.

These internal emails have now been forwarded to various Parliamentary Committees, including the ASIC inquiry being conducted at the Senate Economics References Committee.