ASIC goes to the dogs, FMA tugs the leash

(Image: Getty)

Wed, 10 Jul 2024

Following a gruelling 20-month round of biffo, the Australian Senate Economics Committee delivered one last vicious blow to the country’s financial regulator last week.In what media are obliged to label as "scathing", the final Senate report concludes that the Australian Securities and Investments Commission (ASIC) “has comprehensively failed to fulfil its regulatory remit”.“This report and indeed the whole inquiry process have shown that ASIC is not a capable regulator,” the Senate hit-job says. “F...

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