Longo to quit ASIC at end of term

Australian Securities and Investments Commission (ASIC) chair, Joe Longo is calling it quits, announcing that he will not be seeking reappointment to the role.

The ASIC chair issued a statement in which he said he had informed the Secretary of the Treasury notifying his decision not to seek an extension to his term.

Longo said that he been an immense privilege to to serve as chair of ASIC and to have be3en given the opportunity to rebuild and renew the agency including overseeing its most significant organisational restructure in 15 years.

“In the coming months before I complete my term, we will continue our key enforcement work including a heightened focus on misconduct in superannuation. ASIC’s public and private markets work will also continue, with a focus on efficiency and integrity, to attract investment and promote economic growth.

“We will finalise the independent review of the ASX to ensure Australia has stable, secure and resilient market infrastructure. And we will embark on the next stage of work we began in 2024, to simplify regulation to help tackle the productivity challenges Australia faces.

ASIC has exceptionally dedicated, skilled and experienced staff and I cannot praise them highly enough.

“While the time for extensive acknowledgements will come, I want to thank in particular Deputy Chair Sarah Court, who commenced on the same day as I did, both for her dedication and commitment to the work of ASIC and for her invaluable personal support of me as Chair. I also want to thank all the Commissioners with whom I have worked, for their support and contribution,” Longo’s statement said..