ASIC chairman reveals flight expenses
The chairman of Australia's corporate regulator and his staff spent $45,000 in the second half of last year on international business travel, more than 80 per cent of which went on flights.
Greg Medcraft, chairman of the Australian Securities and Investments Commission (ASIC), attended two meetings and one conference between August and September last year and amassed more than $39,000 in flight expenses, according to disclosure papers released by the regulator.
The most expensive trip was a six day International Organization of Securities Commissions (IOSCO) meeting in Brazil, which cost more than $19,000.
Medcraft is the chairman of IOSCO and also attended a two day taskforce meet in London on the securitisation of markets, which cost more than $16,000.
His third trip was a four day Committee on Payment and Settlement Systems/IOSCO meeting and Eurofi conference in Milan, for which he travelled solo and paid just under $10,000.
The papers showed in the first half of this year, Medcraft is planning business trips to Seoul, Tokyo, Frankfurt and London.
AUTHOR
Staff Writer
Recommended for you
Centrepoint Alliance has the opportunity to sneak up from behind while the three major licensees are distracted as chief executive John Shuttleworth tells Money Management that it aims to “be stable in a sea of turmoil”.
The financial advice profession has seen double-digit adviser losses over the past week, including six advisers who departed Australia’s largest advice licensee.
Regal Partners has grown funds under management to $12.2 billion and flagged it may consider smaller bolt-on acquisitions, having withdrawn a bid last year for Pacific Current Group.
BT is offering its first private markets managed account on the BT Panorama platform as interest in alternatives grow among high-net-worth investors.
