The securities watchdog has hit back at claims levelled by Labor Senator Deborah O’Neill that it failed to do its job in allowing the Nuix float to proceed, saying it isn’t the job of the regulator to make a judgment on the quality of an investment opportunity.
The new chairman of the Australian Securities and Investments Commission Joe Longo was grilled on Friday by Senator O’Neill as part of the parliamentary joint committee into the oversight of ASIC and the Takeovers Panel, but he defended those who conducted the Nuix prospectus review, saying he was satisfied they had done their job appropriately.
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Yolanda Redrup is the editor of the AFR Rich List. She previously reported on technology, healthcare and Street Talk. Connect with Yolanda on Twitter. Email Yolanda at yolanda.redrup@afr.com
