Appointment of Credit Suisse chairman John O’Sullivan, a Turnbull close friend, would threaten Asic independence, Chris Bowen says

Labor is demanding the Turnbull government not appoint John O’Sullivan as the next head of the corporate regulator, saying his links to the Liberal party and to the 2009 Utegate affair would make the appointment unsuitable.

The Coalition is seriously considering appointing O’Sullivan as the next chairman of the Australian Securities and Investments Commission (Asic), to replace Greg Medcraft in November, according to reports.

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