ASIC chairman’s travel expenses revealed
The chairman of the Australian Securities and Investments Commission (ASIC) has defended his international travel expenses as a regulatory priority.
Disclosure documents, lodged on Friday, show ASIC chairman Greg Medcraft spent more than $82,000 on travel in the first half of the year, primarily for meetings for the International Organization of Securities Commissions (IOSCO), for which he is the chair.
He also travelled to Madrid in July for the 8th Australian Business Mission to Europe, at a cost of more than $13,000.
ASIC approves travel if there's direct relevance to a demonstrated domestic priority or Australian advocacy is warranted.
Commenting on the travel, Medcraft said "my work in leading IOSCO is about thinking ahead and taking action now for the longer term benefit of investors and businesses in Australia and right around the world, particularly given the increasing role that markets have to play in funding economic growth".
AUTHOR
Staff Writer
Recommended for you
A former AMP adviser told the Federal Court how they are scared to turn off their phone after a fellow adviser attempted suicide as Justice McElwaine said the 92 objections “weighed heavily” on his mind.
Providence Wealth Advisory Group has appointed a new chief investment officer, a dedicated position after the role was previously held by its CEO.
While hiring new staff in a financial advice practice inevitably incurs expenses, Striver’s Alisdair Barr says the greater business cost can come from losing the skills of a valuable team member.
Sequoia Financial Group has announced it is selling off its Informed Investor subsidiary which it acquired in April 2022.
