Chanticleer

ASIC’s Longo ready to pick his fights (except on crypto)

The new ASIC boss conceded he has no regulatory oversight of crypto assets, in large part because they cannot be classed as financial products.

Updated Nov 22, 2021 – 6.44pm, first published at 3.56pm

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Joe Longo isn’t necessarily spoiling for a fight. But he wants to make it clear he’s not about to walk away from one, either.

The Australian Securities and Investments Commission chairman came to The Australian Financial Review Super & Wealth Summit on Monday with a clear message: while the “why not litigate” mantra of predecessor James Shipton might be gone, the corporate regulator will be in court every day as it continues to take an aggressive approach to enforcement.

James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine.