Business Services Industry
Knott leaves ASIC in the lurch.
Australasian Business Intelligence, August, 2003
Aug 12, 2003 (The Australian Financial Review - ABIX via COMTEX)
The resignation of David Knott, the chairman of the Australian Securities and Investments Commission, is unfortunate. With two years left to run in his term, his departure is thought to be for personal reasons. It highlights what is essentially the unrewarding nature of the job he leaves, which is by current standards under-remunerated and highly exposed to public critique. A qualified person is needed to steer the latest iteration of the Corporate Law Economic Reform Program (CLERP 9) to a successful conclusion in Parliament. Its provisions are so mild that this unlikely to prove either difficult or earth-shattering. The greatest effect of Knott's resignation may be the difficulty it will cause...
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