Frydenberg urged to make decision over ASIC chair

Treasurer Josh Frydenberg is being urged to make a decision over the tenure of Australian Securities and Investments Commission (ASIC) chair James Shipton following an expenses scandal last October.

In a statement, Labor MP Stephen Jones, called on the Treasurer to make a decision whether Shipton could remain in the position or whether a replacement should be appointed instead.

Shipton was currently on gardening leave from his position after an expenses investigation into exceeding limits set by the Remuneration and Tribunal Determinations for relocation expenses.

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A report into Shipton’s expenses had been issued by former inspector general of intelligence, Vivienne Thom, following an inquiry, but Jones said Frydenberg was holding off on releasing this information.

“The longer he stalls his decision about the future of James Shipton as chairman, the more potholes he’s creating in the long road to economic recovery. Mr Shipton cannot remain on gardening leave on his full $775,000 a year salary while a million Australians are looking for work and corporate Australia deals with economic uncertainty,” Jones said.

“He must immediately decide whether Mr Shipton or someone else will lead ASIC through these challenging economic times. And he must outline how and when Mr Shipton’s replacement will be chosen if his position is untenable.”

ASIC deputy chair Daniel Crennan resigned from his position over the same investigation.

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Charge personal expenses to the general public. Attempt to cover it up. Drag your feet on the investigation. Get paid your full salary while on gardening leave. Most likely going to keep your job or more onto another senior public service role sucking on the public teat. Make one small error on a FSCG have your ability to advise removed, your reputation dragged through the mud and your business and livelihood taken away. Nothing wrong here at all.

Frydenberg is a gutless whimp who is more scared to rock the boat. He has his sights clearly on the top job and doesn't want to disenfranchise any powerful groups that may have some clout down the track.

The way he so easily rolled over on the Royal Commission findings and was willing to throw an entire industry under the bus, but now remains silent over this one person's clear transgressions shows he has no character or moral fortitude.

If you remember rightly he was the instigator of all this { LIF etc } and passed it on as he moved along.
Outrageous? and no idea of what he started.

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