Asic Raises More Questions than Answers

Today’s Senate Estimates Committee spillover hearing into ASIC has not ended the matter of the attempted cover up of an investigation into an ASIC Commissioner.

ASIC’s Chair told the Senate that the investigation into the Deputy Chair had “mixed findings” whereas the Deputy Chair says there were “no adverse findings”. I am concerned that the two leading office holders at ASIC cannot agree on an internal matter.

To me, it shows the culture of the organisation is troubled. This is a very strange development and Minister Gallagher acknowledges the “reputational cost” ASIC is incurring.

I have asked ASIC how the “no adverse findings” statement complies with the Senate Privilege Resolution 6(12) which provides that the giving of any evidence that a witness knows to be false or misleading may be treated by the Senate as a contempt.

I await a written answer on this important matter. The corporate cop’s reputation is on the line.

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