The Morrison government came close to breaking up the corporate regulator under the former chairman James Shipton, after Treasury investigated the idea when it was raised in the final recommendations of the Hayne royal commission.
Findings of the investigation into Karen Chester are tightly held by a small group, including the deputy chairwoman, ASIC chairman Joe Longo and Treasury officials.
Corporate watchdog chairman Joe Longo is poised to reveal the largest shake-up of the ASIC in 15 years next month, in a move designed to streamline enforcement, cut bureaucracy and deliver faster decision-making.
Outgoing corporate watchdog Sean Hughes defends the now infamous case against Westpac, takes aim at the anonymous critics and suggests lobbyists have had the last word.