His current term in the role concludes on 31 May 2026
ASIC chair Joe Longo is set to step down from the leadership role next year.
He confirmed that he would not seek reappointment in a statement released by ASIC on Friday 19 September. His term as chair, which began on 1 June 2021, will end on 31 May 2026.
Longo said he informed the secretary to the treasury in June that he would not aim to extend his term. He made the decision official to the treasurer this month.
“When I accepted the position, I was clear ASIC needed to become a modern, confident and ambitious regulator. With the most significant organisational restructure in 15 years, new commissioners, a new CEO and refreshed senior executive team, I see that transformation is delivering dividends”, Longo said in his statement.
He highlighted how ASIC’s investigations numbers have doubled in the past five years, as well as the 20% increase in civil enforcement proceedings in that period. He also pointed to the commission’s funding boost, which has been applied towards stabilising key business registers for the country’s economic infrastructure, and to the reports and discussion papers ASIC has published on addressing regulatory complexity, private and public markets, superannuation member services and banks’ support for low income and hardship customers.
Longo confirmed that as he prepares to vacate the chair role, ASIC will bolster its focus on superannuation misconduct. The commission will also continue to prioritise its work in public and private markets to improve investment and drive growth.
“We will finalise the independent review of the ASX to ensure Australia has stable, secure and resilient market infrastructure. And we will embark on the next stage of work we began in 2024, to simplify regulation to help tackle the productivity challenges Australia faces”, he said.
Longo was previously Deutsche Bank’s general counsel in London and Hong Kong, spearheading regulatory issues, governance, corporate law and non-financial risk. He once served as senior adviser for Herbert Smith Freehills in New York and made partner at HSF Kramer (then Parker and Parker).
He sits on the board of the International Organisation of Securities Commissions and is vice chair of its Asia Pacific regional committee. In addition to his Bachelor of Jurisprudence (Hons) and a Bachelor of Laws (Hons) from the University of Western Australia, he holds a Master of Laws from Yale Law School.
