ASIC’s Joe Longo on the 'twin peaks' model, private markets and the year ahead
Australia doesn’t need more regulators and should retain its 30-year-old model for financial oversight, the ASIC chair told Capital Brief.
Australian Securities and Investments Commission (ASIC) chair Joe Longo says there is no immediate case to overhaul Australia’s regulatory architecture, including the addition of a new regulator for artificial intelligence.
In an expansive interview with Capital Brief, Longo said ASIC’s most significant work in 2025 will centre on addressing the challenges of private markets.
Longo highlighted the contrasting situation in the US, where a complex web of federal and state agencies — now under scrutiny with the establishment of Elon Musk’s Department of Government Efficiency — creates unique regulatory challenges.
“It's a convoluted, complex regulatory architecture in the US,” Longo said. “There are all sorts of political, cultural, constitutional, historical reasons why the US is the way it is.”
