Labor vetoes ASIC chair

Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 10 : 13-Oct-17

Credit Suisse Australia chairman John O’Sullivan will not seek to become chairman of the Australian Securities & Investments Commission. He had been regarded as a leading contender to succeed Greg Medcraft, but he has cited "personal attacks" and insinuations by the Australian Labor Party for his decision to withdraw his candidacy. Labor had alleged that his appointment at ASIC would not be appropriate given his links to the Liberal Party and the so-called "Ute-gate" scandal in 2009. The Government in turn has argued that Medcraft was a former Labor party member and had been appointed by a Labor government without going through a formal selection process.

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, CREDIT SUISSE (AUSTRALIA) LIMITED, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, OZCAR

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