Who is Greg medcraft?

Who is Greg medcraft?

Greg Medcraft was Director of the Directorate for Financial and Enterprise Affairs of the OECD from November 2017 to July 2021 contributing guidance, strategy and support for the Directorate’s policy and standard-setting work in the fields of: Blockchain and distributed ledger technology. Competition.

Who is the chairman of ASIC?

James Shipton commenced as ASIC Chair on 1 February 2018.

Who is ASIC accountable to?

the Australian Parliament
ASIC is accountable to the Australian Parliament in the following ways: ASIC’s Annual Report is tabled in Parliament. This includes an Annual Performance Statement under the PGPA Act, additional compliance reporting, audited financial statements and information on ASIC priorities and activities.

Is ASIC a government body?

ASIC is an independent Australian Government body. We are set up under and administer the Australian Securities and Investments Commission Act 2001 (ASIC Act), and we carry out most of our work under the Corporations Act.

Is ASIC accountable to a Commonwealth minister?

They are accountable to the Minister regarding disclosure of personal interests under the ASIC Act. Commissioners also have obligations under the ASIC Code of Conduct.

What powers do ASIC have?

Parliament has given ASIC a range of compulsory information-gathering powers to enable us to require a person or entity to: provide us with documents and information. attend an examination to answer questions and/or provide reasonable assistance.

Who holds ASIC accountable?

Can ASIC bring criminal proceedings?

In turn, ASIC is empowered to take a range of criminal, civil and administrative action to address alleged misconduct within our jurisdiction.

What penalties can ASIC impose?

The maximum civil penalty for companies is the greater of:

  • 50,000 penalty units (currently $11.1 million)
  • three times the benefit obtained and detriment avoided, or.
  • 10% of annual turnover, capped at 2.5 million penalty units (currently $555 million).

How long do ASIC investigations take?

Our goal is to finalise our initial assessment within 28 days. We can only take action if the matter is within one of our areas of responsibility.