Further to TAFKAS’ earlier post regarding ASIC Chairman James Shipton standing down this is a link to his official statement on the matter.
Here are a couple of quotes from his statment:
Considering the concerns expressed by the ANAO, I (Shipton) will voluntarily reimburse ASIC for taxation related expenses ASIC paid following my 2018 relocation from the United States.
Whilst I believe that I have acted properly and appropriately in this matter, I hold myself to the highest possible standard.
Shipton’s resignation relates to the payment of:
118,000 for his tax advice to relocate from the United States to Australia to take up the job;
Almost $70,000 in rental payments, equal to $750 a week in 2018 and 2019, was made by ASIC on behalf of Mr Crennan after he relocated from Melbourne to ASIC’s Sydney office.
Subject to the outcome of this independent review, TAFKAS would like the following question asked of Shipton and Crennan:
WHY NOT PROSECUTE and/or LITIGATE?
But punters should not lose the forest for the trees. This “scandal” and the Holgate one yesterday relate to under $250,000 of expenditure. Whilst not an insignificant amount, it should be considered in the context of hundreds of millions of dollars of economic to damage done to Australia by the failures of both of these organisations.
If they were actually effective at their jobs, they could keep the $250K. Instead, it is but the cherry on top of the economic carnage caused.