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The Australian Securities and Investments Commission (ASIC) has announced that ASIC CEO Warren Day will be stepping down from his role.
ASIC chair Joe Longo accepted a request from the Commonwealth Director of Public Prosecutions (CDPP) for Day to join the CDPP on secondment as the director’s executive officer, effective as of 1 June 2024.
Longo said the request had recognised the contribution Day had made to the regulator during his time as CEO, particularly with supporting its organisation transformation since 2021.
“Warren has been a significant contributor to ASIC for more than 20 years across virtually every part of ASIC’s remit. This is an opportunity for him to bring the skills and experience he has gained at ASIC to an agency we have a shared interest in supporting and seeing succeed,” Longo said.
“Since I embarked on the review of ASIC’s infrastructure and operations on my first day as ASIC Chair, Warren has played a significant leadership role, particularly with leading the organisational redesign, the delivery of our strategic and enforcement priorities, and the management of ASIC’s Executive Leadership Team.
“Warren leaves with our full support and his appointment underpins the critical institutional relationship ASIC holds with the CDPP, which is core to our enforcement work.”
Day has indicated that he will not return to ASIC upon the conclusion of the CDPP secondment.
Longo further stated that Day’s secondment to the CDPP came as “ASIC enters the next phase of its transformation”.
Greg Yanco, executive director of regulation and supervision, will be appointed as the regulator’s interim CEO effective 1 June 2024.
Previously, Yanco was executive director, markets between January 2019 and June 2023 before beginning his current role.
Yanco informed ASIC that he intends to retire in mid-2025, and a “local and global” search for a permanent CEO will begin in early 2025.
Furthermore, executive director of enforcement and compliance Tim Mullaly also advised that he will be retiring from ASIC at the end of July this year.
Longo commented further: “Tim has for many years played a crucial role in ensuring that ASIC has maintained a strong and strategic pipeline of enforcement work.
“ASIC is in court every day, and we are launching new investigations every second day of the week, all aligned to the priorities we have set out.”
ASIC confirmed local and global searches to fill Yanco and Mullaly’s roles will commence soon.
“Filling these positions is an opportunity for executive renewal and ASIC’s ongoing transformation towards being a modern, ambitious, and confident regulator,” Longo said.
As the ongoing impact of our work continues to be realised, we also have opportunities for exceptional leaders to drive the next phase of ASIC’s transformation.
“I want to thank Warren and Tim for their significant contribution to ASIC over many years and thank Greg for stepping into the Interim CEO role,” Longo said.
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