Australia's watchdog chair steps aside pending expenses investigation

Australian Securities and Investments Commission (ASIC) chair, James Shipton, has stepped aside pending the outcome of a review into his remuneration arrangements. Between 2018 and 2020, ASIC made regular accommodation payments of A$750 per week on behalf of Mr Crennan following his relocation from Melbourne to Sydney, resulting in him exceeding his total remuneration package. Crennan has indicated that he will repay the amount as a debt due to the Commonwealth. Shipton's payment stemmed from tax advice provided by auditor KPMG around his relocation from the United States. ASIC approv...