Senate Supports Motion on ASIC Report

Today, the Senate has supported transparency by endorsing my motion requiring the Treasury release their investigation into a Deputy Chair of ASIC.

The Senate’s order requires the report to be released to the Senate by midday Thursday 9 March 2023.

This has been a shameful saga for the corporate regulator. It commenced when ASIC refused to answer my questions about the investigation and correspondence from Treasury Secretary Steven Kennedy.

How can ASIC be a respected and feared corporate regulator, when they cannot conduct their own internal activities with credibility and transparency? It is a national embarrassment.

With today’s vote, the Senate has ensured that ASIC will be accountable and transparent.

It was untenable for ASIC and Treasury to conceal an investigation where almost $200,000 of taxpayer funds were spent, and the findings remain unknown.

I thank my Senate colleagues.