find the latest legal job
Senior Associate - Litigation & Dispute Resolution
Category: Litigation and Dispute Resolution | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Come work for a firm ranked in Lawyers Weekly Top 25 Attraction Firms
View details
Associate - Workplace Relations & Safety
Category: Industrial Relations and Employment Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Employer of choice · Strong team culture
View details
Freelance Lawyers
Category: Banking and Finance Law | Location: All Perth WA
· Freelance opportunities through Vario from Pinsent Masons
View details
Freelance Lawyers
Category: Other | Location: All Adelaide SA
· • Qualified lawyer with a strong academic background
View details
Freelance Lawyers
Category: Other | Location: All Melbourne VIC
· • Qualified lawyer with a strong academic background
View details
Lawyers in ASIC firing line

Lawyers in ASIC firing line

The Australian Securities Investment Commission's (ASIC) new head Greg Medcraft has declared that financial gatekeepers, including lawyers, will be pursued in his bid to clean up corporate…

The Australian Securities Investment Commission's (ASIC) new head Greg Medcraft has declared that financial gatekeepers, including lawyers, will be pursued in his bid to clean up corporate Australia.

Medcraft took over as head of the corporate watchdog earlier this month. He is only the second non-lawyer to head up the Commission and its predecessor bodies, and has formally served as the chief executive officer of the Australian Securitisation Forum and as an investment banker with Société Générale in Australia.

In his first broadcast interview since taking the top job, he told ABC Radio's AM that ASIC is intensifying its investigations of private practice and corporate lawyers and auditors, and gave a warning to "corporate crooks".

"If you've broken the law and we discover it or we're told about it, we will come after you," he said.

He told the ABC that wrongdoers will be pursued via a number of different investigative channels including ASIC's existing contacts, its call centre that receives "several million calls a year" and via surveillance - including the "reasonable" use of phone and wire taps and email intercepts.

He added that corporate Australia needs to focus more on ethics and "doing the right thing".

Medcraft was unavailable for comment when Lawyers Weekly contacted his office today. However, an interview has been requested for later in the week.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Lawyers in ASIC firing line
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Scales of Justice, ALA, right-to-die law
Oct 24 2017
‘Right-to-die’ laws would be a relief for terminally ill: ALA
The passage of an assisted dying bill through the lower house of Victorian Parliament has been haile...
Diversity
Oct 24 2017
Diversity top of agenda for future WA Law Society president
The advancement of diversity in the Western Australian legal profession will be one of the key items...
Jetski
Oct 23 2017
How to fail well
The legal profession is due for an attitude adjustment when it comes to perceived failures, accordin...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...