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It’s time to break ASIC in two: James Shipton

Ronald Mizen

The corporate watchdog’s enforcement duties could be spun out into a new agency under a proposal from past chairman James Shipton, who says it is being asked to do too much with too little, making it difficult to succeed.

Mr Shipton, who led the Australian Securities and Investments Commission (ASIC) between 2018 and 2021, said successive governments had heaped more and more responsibilities on the agency over the years without adding more resources, leaving it “chronically” underfunded.

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Ronald Mizen is the Financial Review’s political correspondent, reporting from the press gallery at Parliament House, Canberra. Connect with Ronald on Twitter. Email Ronald at ronald.mizen@afr.com

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    Original URL: https://www.afr.com/politics/federal/asic-doing-too-much-with-too-little-should-be-broken-up-shipton-20230218-p5clkt