Australian ASIC Chairman Stands Aside Over Expenses

Chair, James Shipton from The Australian Securities and Investments Commission (ASIC) appears during a public hearing in front of the Parliamentary Joint Committee on Corporations and Financial Services at Parliament House on September 13, 2019 in Canberra, Australia. Tracey Nearmy/Getty Images

The chairman of the corporate watchdog ASIC is standing aside pending a review of expenses.

Shipton was told by the auditor-general on October 22 of concerns about $118,000 in payments made on his behalf relating to tax advice and $70,000 to deputy chair Dan Crennan relating to housing expenses.