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High house prices not our problem: RBA

High house prices not our problem: RBA Save Share The Reserve Bank of Australia will not intervene to curtail surging house prices, with the bank’s deputy governor arguing other tools are available to governments to address equity issues in the property market. Unemployment would be higher if the bank increased record low interest rates prematurely to slow the housing market, RBA deputy governor Guy Debelle said. RBA deputy governor Guy Debelle.  Alex Ellinghausen Speaking virtually to a Perth audience on Thursday, Sydney-based Dr Debelle said Australia’s central bank recognised heightened community concerns over rising house prices and there were several tools available to address distributional issues.

Investment banker to replace Shipton in ASIC shake-up

Investment banker to replace Shipton in ASIC shake-up We’re sorry, this service is currently unavailable. Please try again later. Dismiss Normal text size Advertisement Long-time investment bank lawyer Joe Longo has been named the new head of the corporate watchdog, as the government prepares a radical shake-up of the regulator. Mr Longo, who worked in senior legal positions at Deutsche Bank for 17 years before joining Herbert Smith Freehills in 2017, will replace current chair James Shipton who has been mired in a controversy after the Auditor-General raised concerns about his expenses. Joe Longo was at regulatory challenged Deutsche Bank for 17 years including as its General Counsel, UK and EMEA.

Appointment of new Chairperson and Deputy Chairperson to Australian Securities and Investments Commission

Australian Treasury The Morrison Government has today appointed Mr Joseph Longo as the full‑time Chairperson and Ms Sarah Court as a full‑time Deputy Chairperson to the Australian Securities and Investments Commission (ASIC) for a five‑year period commencing on 1 June 2021. ASIC is an independent statutory body that is responsible for regulating financial markets, securities, futures and corporations as well as being responsible for consumer protection in relation to superannuation, insurance and banking. Mr Longo has had a long and distinguished career in corporate law, financial services, governance and regulation. Mr Longo is currently a senior advisor at Herbert Smith Freehills and prior to that worked as general counsel for Deutsche Bank in London and Hong Kong for 17 years, was the national director of enforcement at ASIC and a partner at Parker & Parker (now Herbert Smith Freehills).

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