OPINION: The commissioner left the corporate regulator this week after almost a decade of public service. She leaves a strong legacy.
A veteran capital markets player says he was a fan of ASIC commissioner Cathie Armour because “she was always prepared to listen to and support people trying to do the right thing”.ASIC Commissioner Cathie Armour will be remembered for getting into the nitty-gritty of market disclosure.This sums up Armour’s approach to her nine-year career as the key regulator of Australia’s capital markets. She would seek out market views before reaching a considered opinion about what should be done.
She championed the development of laws to finally protect ‘client monies’ held by stockbrokers following the collapse of financial services company BBY in 2015. This process brought out her skills in policy development, which involved working closely with government and Treasury. She exhibited a strong commitment to market integrity issues, particularly disclosure requirements, although there is still work to be done given the continued uncertainty over ANZ Bank’s failure to disclose a shortfall on a $2.3 billion capital raising in 2015.
It is not well known that she played a significant role in climate-related disclosures. She took the view that if something was material to the value of a security, regardless of whether it was climate-related or financial, it needed to be addressed.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Joanne Harris says she saw her cancer as a fictional ‘monster’ she could ‘destroy’The Chocolat author was diagnosed with breast cancer in 2020 and has shared her experiences on social media
Read more »
For Queen and corgis: ‘Around her dogs she can be completely herself’In the Queen’s 70 years as monarch, no symbol has become more identifiable with British royalty than a corgi, her steadfast companions since she was a child. They make an iconic pairing. 🐶 platinumjuilee queenelizabeth
Read more »
Victorian senator says she will risk seat to protest native loggingLidia Thorpe says she is prepared to risk losing her parliamentary position to continue to protest native logging despite proposed amendments to the law.
Read more »
'I cannot read every one': Police Commissioner testifies about what she read before issuing COVID-19 vaccine mandate for staffQueensland's Police Commissioner Katarina Carroll is grilled in the Supreme Court in Brisbane over her decision to introduce a mandatory staff-wide COVID-19 vaccine policy.
Read more »
Record-breaking Hurricane Agatha kills 11, leaves 20 missing in southern MexicoCategory two Hurricane Agatha causes flooding and mudslides across southern Mexico after setting a May record for the eastern Pacific.
Read more »
McDonald misses start of Sri Lanka tour with COVID-19Australia’s head coach Andrew McDonald will miss at least the first game of the Sri Lanka tour after testing positive to COVID-19.
Read more »