The Australian Securities and Investments Commission (ASIC) commission has announced the appointment of a new chair and deputy chair.
Joe Longo has been appointed as the next ASIC chair. He served as the national director of enforcement from 1996 to 2000 and more recently as lawyer at Herbert Smith Freehills.
Commenting on Longo's appointment, ASIC chair James Shipton said: “His wealth of domestic and international experience will serve ASIC well in the vital work it does in supporting the financial system and economy, especially as Australia recovers from the downturn caused by the COVID-19 pandemic.”
Sarah Court has been appointed as ASIC deputy chair. Court served as the Australian Competition & Consumer Commission (ACCC) Commissioner for 13 years. She was first appointed as the commissioner in May 2008 and reappointed for a third term in 2018. She currently chairs the ACCC's enforcement, compliance, consumer data right, and legal committees and is a member of the merger review and competition exemption committees.
“This is a well-deserved reflection of the experience, expertise, and wisdom Sarah brings to the table,” said ACCC chair Rod Sims. “ASIC's gain is very much our loss. In her 13 years at the ACCC, Sarah has made an incredibly significant contribution to the agency and its work. We pass on our congratulations to Sarah in her new role.”
Court commented: “I will miss the ACCC, but I am very much looking forward to engaging with the opportunities at ASIC.”