Incoming ASIC chair brings ‘deep’ litigation experience
Sarah Court, the new chair of Australia’s corporate watchdog, will bring a “strong record of enforcement” to ASIC, outgoing chairman Joe Longo said.
Mr Longo said Ms Court, the first woman to lead the Australian Securities and Investments Commission in its 35-year history, would bring deep regulatory expertise to the role from her public service career.
“Sarah is an outstanding organizer with a strong track record of practice that demonstrates her integrity and impact,” Mr. Longo said.
It was announced on Monday night that Treasurer Jim Chalmers will replace Ms Court, who has served as ASIC’s deputy chairman for almost five years under Mr Longo.
“His work as ASIC’s deputy chairman was instrumental in the success of the agency’s structural transformation, which strengthened our enforcement posture and work, leading to better outcomes for consumers and a fairer financial system,” Mr Longo said.
“ASIC will be in very capable hands under his leadership.”
Together they have overseen an overhaul of the regulator’s internal processes and a significant advance in enforcement measures, launching 252 investigations in 2024/25, up from 168 in the previous financial year.
Ms. Court said it would be business as usual until her appointment begins on June 1 and that she was focused on working with Mr. Longo to ensure a smooth transition.
“ASIC’s work is critically important to all Australians and it will be a privilege to take on the role of Chairman in June,” he said.
“I would like to acknowledge and thank Joe Longo not only for his work as chairman, helping transform ASIC into a modern, confident, assertive and bold regulator, but also for his generous and unwavering support since we began working together at the agency.”
Dr Chalmers thanked Mr Longo for his “significant contribution” to strengthening ASIC’s capacity, its focus on consumer protection and its work in public and private markets.
Dr Chalmers said Ms Court, as an experienced litigator and leader, would have a positive impact on one of Australia’s major regulators.
“Ms. Court has more than 15 years of experience in senior legal positions at various corporate regulators, a strong background in regulation, litigation and enforcement, and deep expertise in maintaining corporate standards and preserving market integrity,” he said.
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