The corporate watchdog’s controversial “why not litigate” mantra has been dumped after Treasurer Josh Frydenberg made clear his expectation of a more supportive regulator focused on economic recovery.
The change is part of a major overhaul of the Australian Securities and Investments Commission, which also included the appointment of a new leadership team following the high-profile departure of former chairman James Shipton and his deputy, Daniel Crennan.
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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