Capital market shake-up should preserve shareholder interests
The ASIC review, while well-intentioned, runs the risk of descending into a lobbying opportunity for business and a public relations exercise for the regulator.
Joe Longo has less than 12 months left in his five-year term as the chairman of the Australian Securities and Investments Commission. Under his watch, the corporate regulator has been highly active – it has exposed the hypocrisy of fund manager greenwashing, targeted the worrying failures of our superannuation giants and taken Macquarie to task for several compliance shortcomings.
The sum of those actions has been to restore ASIC’s standing after the troubled James Shipton era and the many investigations into the regulator’s competence and effectiveness that followed.
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The Australian Financial Review’s succinct take on the principles at stake in major domestic and global stories – and what policy makers should do about them.
