May
How Macquarie boss responds to the ASIC action will define her legacy
The group’s relationship with the nation’s corporate cop, the Australian Securities and Investments Commission, has been in freefall.
This is the biggest test for Macquarie since the GFC
It is critical the board does not underplay the huge cultural turnaround that the bank must confront, which could prove tougher than the post-GFC rebound.
April
ASFA and ASIC chiefs still need to talk
The pair met, naturally, at the conference of yet another superannuation industry group.
March
Australia now has a new ‘poster child’ for bad governance
ASIC boss Joe Longo is furious at what he sees as basic failings in the way the $4 trillion superannuation system is conducting itself.
ASIC kickstarts deregulation agenda to lighten director loads
The chairman of the corporate regulator, Joe Longo, will also on Wednesday call for more science and technology experience in the boardroom.
Private markets need better regulation
Readers’ letters on ASIC’s transparency push, David Littleproud’s climate stance, Chinese navy vessels circling Australia and democracy under Donald Trump.
February
Howard Marks and ASIC share a warning about private market risks
ASIC wants more transparency from private markets. Wall Street legend Howard Marks says there’s one big question investors and regulators need to focus on.
Get your house in order, Longo tells scandal-plagued CEOs
After a string of high-profile scandals involving chief executives, ASIC chairman Joe Longo is putting boards on notice.
December 2024
ASX scrambles to fix CHESS settlements outage as traders fume
At lunchtime on Friday as many stockbrokers went to end-of-year lunches, the market operator said its batch payments had failed, threatening a cash flow crunch.
November 2024
ASIC’s Joe Longo named Time climate crusader
This feels like 2011, when Euromoney opened our eyes to the charms of Wayne Swan.
There’s a simple way to simplify the red tape strangling business
The Australian Law Reform Commission has set out a blueprint to fix our financial service laws mess. It must not be allowed to gather dust.
Macquarie boss says accountability matters after ASIC jibe
After being slapped with a record fine for failing to monitor energy futures markets, the bank pledged to identify root causes and hold staff accountable.
September 2024
‘I would not recommend ASIC’: scathing assessment by staff
The results of a confidential cultural survey make for embarrassing reading on staff motivation, satisfaction and the regulator’s leadership team.
ASIC pursues board directors over cyber breaches
ASIC says more investigations are underway, scrutinising how boards and directors have responded to cyberattacks.
Anti-corruption commission clears former ASIC deputy Karen Chester
The National Anti-Corruption Commission has sought to protect against unfair reputation damage, clearing former ASIC deputy chairman Karen Chester of corrupt behaviour
August 2024
ASIC budget set to fall despite warnings on resourcing
The corporate regulator’s annual budget appropriation will be $6 million lower in 2027-28 compared with last financial year, but when adjusted by inflation the cut is much bigger.
Senior silks command up to $25k a day, but ASIC, ACCC pay under $5k
Bar associations are sounding the alarm about the situation, which has left regulators relying on an evaporating pool of experienced barristers.
ASIC alleges ASX misled the market for months on botched CHESS upgrade
The sharemarket operator faces a maximum fine of more than $500 million if found by the Federal Court to have made misleading statements about the project.
July 2024
Inside the push to break up ASIC
ASIC chairman Joe Longo says the corporate cop is finally turning a corner, but there are plenty of critics who think the only answer for ASIC is ‘radical change’.