Business
‘Getting on with it’: ASIC’s policy days are over – The Australian Financial Review
The watchdog’s acting chairman, Karen Chester, says the “recent past of an ASIC imploring the government for new regulatory powers and better field coverage is…
“This has afforded ASIC the opportunity for regulatory calibration, now firmly focused on consumer and market outcomes,” she said. She called on boards to “step in early and step up decisively to manage both financial and non-financial risk”.
Recent legislation passed by the Coalition, on which the regulator has consulted, were powers recommended by the government’s 2014 Financial System Inquiry, long-awaited by the watchdog and which royal commissioner Kenneth Hayne had recommended be quickly legislated.
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