Muzzling the watchdog?: Asic chief defends shift to ‘promoting economic recovery’ | Business
By any standard Joe Longo has a job on his hands.
The new boss at the Australian Securities and Investments Commission has only been in the role since April and his opponents are already claiming the corporate watchdog has become a toothless one.
There are accusations that the federal government is set on forgetting the lessons from the excruciating banking royal commission and deliberately neutering Asic’s ability to hold corporate Australia to account.
In an interview with Guardian Australia, Longo, a lawyer who spent much of his career – 17 years – at the troubled German leviathan Deutsche Bank, says he is not one to be muzzled and appears determined to prove detractors wrong.
But the usual background mutterings among politicians and consumer advocates about Asic turned to open alarm last week after three words were deleted from its corporate plan.
The words: “why not…