Sarah Court replaces Joseph Longo as head of ASIC
In a sign that the federal government expects more action against companies that harm consumers, the nation’s corporate regulator will be headed by veteran litigator Sarah Court.
Court, who has been deputy chairman of the Australian Securities and Investments Commission since 2001, will take over from current boss Joseph Longo from June 1, Finance Minister Jim Chalmers said on Tuesday morning.
Chalmers said the Tribunal had more than 15 years of experience in senior legal positions, including at the Australian Competition and Consumer Commission, with a heavy emphasis on litigation and enforcement matters.
He said Court, the first woman to head ASIC in its 35-year history, had delivered some of the regulator’s strongest enforcement outcomes while raising standards across the financial system.
“The Albanian government has ushered in a wave of female leadership in Australia’s leading economic institutions and this appointment is another milestone,” he said.
“We have appointed Michele Bullock as the first woman to lead the Reserve Bank of Australia, Danielle Wood as the first female chair of the Productivity Commission, Jenny Wilkinson as the first woman to lead the Treasury and we are proud to appoint Sarah Court as head of ASIC.”
In his last public address in November last year, Court said the active enforcement of company law benefits consumers and the wider business sector.
“Strong and active corporate law enforcement means the rules of the game are clear, the playing field is level and those who break the law are held to account,” he told the annual ASIC forum.
“These are all critical for consumer trust and confidence and for properly functioning markets, both essential elements for improving efficiency.”
The court also said ASIC, which has been attacked for not taking formal legal action against businesses, will take action to help control prices faced by consumers.
“Whether by major banks, insurance companies, credit providers or pension trustees, we will continue to focus on misleading pricing practices that impact the cost of living for Australians in 2026,” he said.
Chalmers paid tribute to Longo, who took over as president in 2021, saying he had made significant contributions to the organization, particularly through his focus on enforcement and consumer protection initiatives.
Shane Wright is senior economic correspondent for The Age and The Sydney Morning Herald.Connect with: X or email.
