Australian Securities & Investments Commission Chair Joe Longo will not seek reappointment and will complete his term in May 2026

The Australian Securities & Investments Commission announced that Chair Joe Longo has decided not to seek an extension to his appointment and will serve out his current term, which ends on 31 May 2026. Longo said he informed the Secretary to the Treasury of his decision in June and formalised that advice to the Treasurer earlier this month. In a statement, Longo pointed to ASIC’s most significant organisational restructure in 15 years, the appointment of new Commissioners, a new Chief Executive Officer and a refreshed senior executive team. He cited a doubling in ASIC investigations and a 20% increase in civil enforcement proceedings over the last five years, alongside increased funding to stabilise critical business registers, and recent reports and discussion papers on regulatory complexity, private and public markets, superannuation member services, and banks’ support for low income and hardship customers. ASIC’s work programme will continue during the remainder of Longo’s term, including a heightened enforcement focus on misconduct in superannuation, continued public and private markets work focused on efficiency and integrity, finalisation of the independent review of the ASX, and the next stage of work launched in 2024 to simplify regulation.