World News – UA – ASIC Vice-President resigns over spending scandal


The company’s watchdog vice president Daniel Crennan resigned after he came out, he demanded nearly $ 70,000 from taxpayers to cover rent

Treasurer Josh Frydenberg ordered a review of housing expenses and a nearly $ 120,000 tax bill for Australian Securities and Investments Commission chairman James Shipton after the audit office expressed concern about M payments Shipton deviated from his position on Friday

M Crennan said in a statement on Monday that the review would likely take some time and, in the interests of ASIC, he would resign immediately.He plans to retire in mid-2021

« The government thanks Mr. Crennan for his service and the important work he undertook during his tenure as Vice President, ”said Treasurer

M Crennan said he accepted a request from M Shipton in October 2018 to move from Melbourne to Sydney « due to the higher number of commissioners in Melbourne »

« ASIC agreed to pay me a relocation package including a rental allowance I was told that payment of this allowance was in accordance with ASIC policy, » he said

« In September 2020 and early October 2020 I received external opinions on the current position of the Australian National Audit Office (ANAO) regarding the housing allowance paid to me. I asked the ‘ASIC to stop paying me housing allowance

The audit office first reported to Mr. Frydenberg on September 15 that he had concerns about payments to « key executives »

On October 16, M Shipton informed the Treasurer of these payments related to his tax bill and M’s relocation program Crennan and included ASIC’s draft response to the Auditor General, which covered some expenditure details

Treasury officials said they had had a series of talks with Mr. Shipton, other ASIC commissioners and M Frydenberg between October 16 and 23, when the Treasurer made the matter public, regarding ASIC’s response to the audit report and its recommendations

Assistant Secretary Meghan Quinn said her advice to M Frydenberg was that an independent review outside of ASIC was desirable in the situation

He then appointed former Inspector General of Intelligence and Security Vivienne Thom to lead the review

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Katina Curtis is political reporter for The Sydney Morning Herald and The Age, based at the Canberra Parliament Building

Australian Securities and Investments Commission, resignation, Australia

Global news – AU – ASIC Vice President resigns over spending scandal


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