Reported 12 months ago
A Senate inquiry in Australia has recommended splitting the Australian corporate watchdog, ASIC, into two separate entities due to its failure to effectively fulfill its responsibilities. The inquiry found that ASIC had not taken action against wrongdoers and had focused more on managing its reputation. Additional recommendations included enhancing transparency, improving enforcement outcomes, and incentivizing whistleblowers. Treasurer Jim Chalmers has yet to officially respond to the report.
Source: YAHOO