Business
Asic admits it acted at ‘glacial’ pace over rent payments to deputy chairman – The Guardian
Acting chair Karen Chester confirms at Senate inquiry that some of the advice KPMG gave its chairman related to tax minimisation
The acting chair of the Australian Securities and Investments Commission, Karen Chester, has admitted to parliament that the regulator acted with glacial speed in dealing with concerns about rent payments to its deputy chairman, Daniel Crennan QC.
Last week the auditor general, Grant Hehir, told the treasurer, Josh Frydenberg, that payments of about $70,000 to Crennan and $118,000 to KPMG for tax advice it gave to the Asic chairman, James Shipton, breached public service pay rules.
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