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Treasurer announces new ASIC chair and deputy chair


Treasurer announces new ASIC chair and deputy chair
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The federal Treasurer has announced the replacements for ASIC chair James Shipton and former deputy chair Daniel Crennan.
Joe Longo, a senior adviser at law firm Herbert Smith Freehills with experience in legal advisory, regulatory enforcement and internal legal and commercial matters in global banking and financial regulation, has been named as the new chair of the Australian Securities and Investments Commission (ASIC).
Mr Longo was previously the national director of enforcement at ASIC, where he was responsible for the national co-ordination and direction of the regulator’s enforcement and litigation activities. ....

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Tax, regulation targeted in race for Asia finance crown


Tax, regulation targeted in race for Asia finance crown
02 February 2021
A committee assembled by senator Andrew Bragg has urged the government to slash convoluted tax and regulatory obligations in the financial services sector, having issued a list of ways for Australia to usurp Hong Kong’s title as an APAC industry hub.
A newly released report from the senator-convened committee, Australia as a Financial & Technology Centre Advisory Group (AFTCAG), has made 15 recommendations for how Australia can lure the Asia-Pacific region’s money managers. 
AFTAG, which is chaired by Australian British Chamber of Commerce chairman Andrew Low, was formed in August and contains a cross-section of executives and board directors from the financial services sector. Among others, the members include Frank Kwok, head of Asia Pacific for Macquarie Infrastructure and Real Assets; Di Challenor, general manager, GTS Westpac Institutional Banking and First Sentier Aust ....

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