ASIC chair Greg Medcraft to stay on, as Corporate Cop and save us from Murray
Apr 12 2016
Australian Securities and Investments Commission chair Greg Medcraft made himself pretty clear on Fran
Kelly's ABC breakfast radio show on Tuesday morning.
"I want to continue on with the job," Medcraft said when asked whether he would like to stay for a second
term. His original five-year term ends on May 12 – only four weeks away.
We are so confident that his term will be extended that we promise – right here, right now – to eat all 320 pages of David Murray's financial system inquiry if it doesn't happen.
Whatever reservations Joe Hockey might have had about Wayne Swan's pick for the corporate regulator,
Treasurer Scott Morrison has made it clear in recents days that, in Medcraft, Australia has a "tough cop on the
beat". And centre-right politicians don't sack tough cops.
ASIC Chair Greg Medcraft says trust in finance sector has been 'somewhat dented'
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Broadcast:
Tuesday 12 April 2016 8:05AM (view full episode)
Image: Greg Medcraft, Chair of ASIC (ABC TV/The Business) Link to larger image.Image: Greg Medcraft, Chair of ASIC (ABC TV/The Business)
The Prime Minister is coming under increasing pressure from Labor, the Greens, the unions, and even
backbench MPs within his own party, to launch a Royal Commission into the Australian banking sector.
Labor says a Royal Commission will have far broader reach than that of the regulators, like Australian
Securities and Investments Commission (ASIC). But the Prime Minister disagrees.
The Chair of ASIC, Greg Medcraft joins Fran Kelly on RN Breakfast.