ASIC to launch simplification taskforce

Corporate regulator, the Australia Securities and Investment Commission (ASIC), held its annual forum this week where Chairman Joe Longo outlined his key priorities for the next 12 months. A major focus is cutting red tape to make regulating the financial markets easier and more efficient. This week, ASIC also put Australia's superannuation trustees on notice, taking action against Cbus for mishandling more than $20 million worth of death and disability claims from customers. Sky News business reporter Ed Boyd was joined by ASIC Chairman Joe Longo to discuss the launch of a simplification taskforce in hopes of increasing the organisation's regulatory efficiency.