Australian Securities and Investments chair Joe Longo says easing the economic crisis stemming from the pandemic is the immediate challenge for the corporate regulator.
- New ASIC boss Joseph Longo’s focus is helping people and businesses through COVID and shutting down pandemic scams
- He is particularly worried about unregulated cryptocurrency investments and scams
- Mr Longo says decisions to prosecute are ultimately up to the Director of Public Prosecutions
In his first interview as ASIC boss, Mr Longo said the regulator was cracking down on investment scams running rife during the pandemic but the main priority was protecting Australia’s economy, which until recently was rebounding from recession.
“Frankly, it’s all hands on deck with COVID,” he told RN Breakfast.
“So, a big external priority for us is doing what we can to support Australian business and Australian consumers in the middle of this pandemic.
“That doesn’t mean we’ve taken our eye…