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Myriam Robin

ASIC sues ex-commissioner’s new employer

In an industry full of well-compensated chancers and spruikers, vanilla Vanguard is being sued regarding an ETF that charges a mere 0.24 per cent fee.

The Australian Securities and Investments Commission was not a settled place when commissioner Sean Hughes left it in January.

News of chairman Joe Longo’s “abject” apology for the public dressing down of an underling had just made this newspaper. As had earlier grumblings about the increasing centralisation of power to Longo and deputy chairwoman Sarah Court.

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Myriam Robin is a senior writer based in the Melbourne newsroom. She has previously been a Rear Window columnist and editor, and before that reported on financial markets and media. Connect with Myriam on Twitter. Email Myriam at myriam.robin@afr.com

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    Original URL: https://www.afr.com/rear-window/asic-sues-ex-commissioner-s-new-employer-20230726-p5drf5