Business
Frydenberg declares war on corporate regulator in a bid to reduce powers – The Guardian
Australian Securities and Investments Commission under pressure in parliamentary committee following expenses scandal
Josh Frydenberg has declared war on the corporate regulator, saying the Australian Securities and Investments Commission needs to be overhauled so it conforms to the will of parliament.
Asic was caught in a pincer movement on Wednesday, with a parliamentary committee chaired by a Liberal senator mulling ways to break up or reduce the powers of the regulator while Frydenberg used a speech to declare it must not supplement, circumvent or frustrate the law.
While regulators needed to make enforcement…
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