Sarah Court Appointed ASIC Chair
Treasurer Jim Chalmers announced that Sarah Court will become the first female chair of the Australian Securities and Investments Commission (ASIC), with her five-year term beginning on July 1.
"Ms. Court has been an excellent deputy and is expected to be an outstanding chair."
Professional Background
Ms. Court previously served as a commissioner at the Australian Competition and Consumer Commission (ACCC) and as a senior lawyer at the Australian Government Solicitor. She has been ASIC's deputy chair for nearly five years, serving under the outgoing chair, Joe Longo.
Treasurer's Endorsement
Mr. Chalmers stated that Ms. Court has been an excellent deputy and is expected to be an outstanding chair. He highlighted her role in substantially strengthening ASIC's enforcement and investigation capabilities over the past five years, leading to strong enforcement results focused on consumer protection, lifting financial system standards, and reinforcing market integrity.
Women in Economic Leadership
Ms. Court's elevation contributes to a record number of women leading Australia's key economic institutions. Other female leaders include Reserve Bank Governor Michele Bullock, ACCC Chair Gina Cass-Gottlieb, Treasury Secretary Jenny Wilkinson, and Productivity Commission Chair Danielle Wood.
ASIC's Influence and Recent Performance
As ASIC head, Ms. Court will significantly influence Australian corporate culture, balancing regulation and preventing consumer harm.
Under Mr. Longo's tenure, ASIC's enforcement capabilities were strengthened, and the regulator initiated a major digital transformation. Mr. Chalmers acknowledged Mr. Longo's contributions, including his focus on enforcement, consumer protection, public and private markets, and organizational capability.
However, ASIC has faced criticism for aggressive litigation and allegations of failing to prevent the collapse of certain managed investment funds.