ASIC’s power to ban senior officials in the financial sector
The submission to Treasury on the Australian Securities and Investment Commission’s (ASIC) power to ban senior officials in the financial sector was prepared by the Corporations Committee and Financial Services Committee of the Business Law Section of the Law Council of Australia.
The Committees have had the benefit of reviewing the submission lodged by the Australian Institute of Company Directors (AICD) on 17 October 2017. The Committees agree with the general premise of the AICD’s submission and are in support of the comments and suggestions made in the AICD’s submission.