Joe Longo, senior adviser at law firm Herbert Smith Freehills, is the new chair of ASIC. Mr Longo worked as general counsel for Deutsche Bank in both London and Hong Kong for 17 years, prior to which he was ASIC’s national director for enforcement. He replaces James Shipton, who decided to resign his position in the wake of an expenses scandal despite ultimately being cleared of wrongdoing.
ASIC confirmed the appointment to ifa.
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Another Lawyer – great.
Let’s hope the new guy can move ASIC on from the toxic adviser persecution culture entrenched by Medcraft & Kell, and start protecting consumers from harmful unlicensed advice & products.
Another lawyer with with little understanding of local conditions.
what is the fate for Shipton?
Well….I get they didn’t get the diversity email…That will create a certain culture in ASIC now. Would have thought ASIC had enough lawyers and in a position of leadership other skills would be required.
Haha diversity? I thought you meant this in terms of that he is another white male!? And a LAWYER?
Where do lawyers sit on the PUBLIC trust scale……. well below us down near the bottom with Politicians and Car Salesmen (apologies to any car salesmen and women reading this)
Great another lawyer, just what the financial services industry needs.
Great. Another Lawyer around the place… 🙁
Great…Another lawyer with zero Australian Financial services knowledge. Seriously..