ASIC appoints first female chair

She will become the first female chair in ASIC’s 35‑year history, following eight successive male chairs:

• Joe Longo (2021–26)

• James Shipton (2018–21)

• Greg Medcraft (2011–17)

• Tony D’Aloisio (2007–11)

• Jeffrey Lucy, AM (2003–07)

• David Knott (2000–03) – LLB

• Alan Cameron (1993–2000)

• Tony Hartnell (1991–93).

The incoming chair has over 17 years of experience in high-level statutory roles, including as deputy chair of ASIC (since 2021) and as a commissioner of the Australian Competition and Consumer Commission (ACCC).

Her expertise has centred on steering complex enforcement and investigation work, specifically targeting modern challenges like climate disclosure, scams, and greenwashing.

She has also represented Australian interests on global stages, such as the OECD and maintains strong ties to legal academia and corporate governance.

She will lead ASIC for a five-year term starting 1 June.

Speaking of the new appointment, Longo said the new appointee would bring deep regulatory expertise to the role from her career in public service.

“Sarah is an exceptional regulator with a strong record in enforcement that demonstrates her integrity and impact,” Longo said.

“Her work as ASIC’s deputy chair has been instrumental to the success of the agency’s structural transformation that has strengthened our enforcement posture and work, leading to better outcomes for consumers and a fairer financial system.

“ASIC will be in very capable hands under her leadership.”

Longo, who started in the position on 1 June 2021, informed the Secretary to the Treasury that he would not be seeking an extension to his term in June last year, a decision which was then formalised to the Treasurer in September.

He said the decision not to seek an extension comes amid major reforms, stronger enforcement, and ongoing priorities to strengthen regulation, markets, and productivity in Australia.

He continued: “Over the coming months, I will support Sarah, the Commission and all our staff to ensure a smooth and orderly transition.”

Court 'will make a positive impact on one of our major regulators': Chalmers

Speaking of the appointment, federal Treasurer Jim Chalmers noted that the government had recommended to the Governor‑General that Sarah Court be appointed as the next ASIC chair, stating: "Ms Court has been an excellent deputy and she’ll be an outstanding chair. She is an experienced litigator and leader, and will make a positive impact on one of our major regulators."

He noted her strong background in regulation, litigation, and enforcement, and deep expertise in upholding corporate standards and protecting market integrity, adding: "Over the past five years, Sarah has substantially strengthened ASIC’s enforcement and investigation capabilities.

"Under her leadership, ASIC has delivered some of its strongest enforcement results on record—reflecting a sharper focus on protecting consumers, lifting standards across the financial system, and reinforcing the integrity of Australia’s markets."

Chalmers also noted that Court will be "the first woman to lead ASIC in its 35‑year history".

"The Albanese Government has ushered in a wave of female leadership across Australia’s top economic institutions, and this appointment is another milestone.

"We appointed Michele Bullock as the first woman to lead the Reserve Bank of Australia, Danielle Wood as the Productivity Commission’s first female chair, Jenny Wilkinson as the first woman to lead the Treasury and we’re proud to appoint Sarah Court to lead ASIC," he continued.

The federal Treasurer also thanked Longo for his "significant contribution to ASIC’s work, including through his focus on enforcement and consumer protection initiatives, his work on public and private markets and strengthening the Commission’s organisational capability".

The Australian Banking Association has congratulated Court on her appointment as the new ASIC chair, with ABA CEO Simon Birmingham describing it as a “landmark moment” for her and Australia’s corporate regulator.

“Sarah is an experienced regulator, having held numerous senior legal and regulatory enforcement positions throughout her career,” Birmingham said.

“As ASIC’s current deputy chair, we also welcome the stability this appointment brings."

He continued: “In addition to upholding standards across the financial services sector, we trust ASIC will continue their important work on issues such as regulatory simplification and ensuring appropriate standards in private credit markets.

“The ABA and our members look forward to working with Ms Court and ASIC in helping to ensure Australia maintains an accessible, fair, competitive and innovative banking system.

“The ABA also once again thanks Mr Longo for his outstanding public service and contribution during his time as ASIC Chair.”

[Related: ASIC chair Joe Longo to step down]