Recent remarks by each of ASIC Chair Joe Longo and ASIC Commissioner Sean Hughes have looked at the issue of deterring harmful conduct, but through some very distinct lenses.
Chair Longo stressed ASIC’s commitment to enforcement – his clear strategic statement in the most recent ASIC Corporate Plan about the importance of enforcement was further underlined by his remarks.
A strong commitment to targeted, credible corporate law enforcement is a critical feature of effective regulation ASIC Chair Joe Longo, 22 Nov 2021
Commenting on enforcement’s function of ‘supporting those who want to do the right thing’, he emphasised the range of powers now available to the agency as part of its regulatory toolkit. A clear objective for the agency’s enforcement unit is to take ‘considered and proportionate action where [ASIC finds] harm or wrongdoing’.
We will use the full range of our regulatory powers, from our supervisory work through to litigated enforcement matters. You can expect nothing less. ASIC Chair Joe Longo, 22 Nov 2021
The ASIC Chair emphasised the objective behind deploying the powers in ASIC’s armoury – to deter harmful conduct, to hold to account…
