Watchdog wants more teeth to fight corporate misconduct
The corporate regulator wants more investigative powers and tougher penalties for white-collar criminals, after a wide-ranging reassessment of the way it carries out its job.
The proposals are part of the Australian Securities and Investment Commission's 200-page submission to a Senate inquiry into its performance.
They include calls for greater whistleblower protections and a national exam for financial advisers that would prevent ''bad apples'' from working in the industry.
The submission marks a philosophical shift for the regulator, calling into question its role in governing markets and calling for policy changes to allow greater intervention into suspected misbehaviour.
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