ASIC, now less a corporate watchdog, more a lapdog

By Andrew Schmulow, Senior Lecturer, Faculty of Law, University of Wollongong

The implosion of Australia’s corporate watchdog, the Australian Securities and Investments Commission, under the federal government’s new directions, has gone from tragedy to farce.

ASIC was described as “weak, hesitant and timid” in a 2014 Senate review of its performance. To be fair, that was before ASIC’s current leadership. Now any assessment could add “dazed and confused”.

Last week we got a dose of that in the doublespeak of ASIC’s new chair…

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