Sarah Court will become the first female chair of the Australian Securities and Investments Commission (ASIC) on June 1, the financial regulator said on Tuesday, succeeding Joe Longo and taking up a five-year term from that date.
Court has served as deputy chair for ASIC since 2021 and prior to joining the body was a commissioner at the Australian Competition and Consumer Commission (ACCC) and a senior lawyer at the Australian Government Solicitor. “She is an experienced litigator and leader and will make a positive impact on one of our major regulators,” Treasurer Jim Chalmers said in a statement.
Longo welcomed the appointment and cited Court’s “deep regulatory expertise” and record of public service. “Sarah is an exceptional regulator with a strong record in enforcement that demonstrates her integrity and impact,” Longo said. He credited her work as pivotal to ASIC’s recent structural transformation, which aimed to strengthen the agency’s enforcement posture.
Longo’s own five-year term, which focused on consumer protection initiatives and organisational capability, concludes on May 31.
“ASIC will be in very capable hands under her leadership,” Longo added. In the succeeding months, the focus will shift to a managed handover. “I will support Sarah, the Commission, and all our staff to ensure a smooth and orderly transition,” Longo said.
Her appointment marks a notable shift in Australia’s regulatory landscape, with women now leading five of the nation’s major economic institutions: Reserve Bank Governor Michele Bullock, Australian Competition and Consumer Commission Chair Gina Cass-Gottlieb, Treasury Secretary Jenny Wilkinson, and Productivity Commission Chair Danielle Wood.
