Setting the record straight: ASIC, bribery and enforcement action

A speech by Greg Medcraft, Chairman, Australian Securities and Investments Commission to an AmCham Business Leaders Lunch, 11 October 2013.

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Now to move on to the main topic for today – ASIC’s role in investigating foreign bribery allegations. There has been plenty of media in the past fortnight about this. A lot has been written, much of it has been ill-informed in describing ASIC’s role. Today I want to set the record straight, I will talk about:

  • taking action against public companies responsibility for bribery
  • ASIC’s relations with the Australian Federal Police (AFP)
  • the difference between criminal and civil proceedings
  • the AWB case
  • bribery and directors’ duties breaches
  • the Centro principles on directors’ duties
  • our approach to enforcement and surveillance.

Download the full speech (PDF 91 KB)

Last updated: 11/10/2013 12:00