ASIC deputy chair Sarah Court, currently the corporate regulator’s top enforcer in the Shield and First Guardian scandal, will succeed outgoing chair Joe Longo.
Longo announced he would not seek reappointment as chair last year. Court will take over from 1 June 2026.
Court will be speaking at the Professional Planner Advice Policy Summit, which will be held on 23-24 February 2026 at the National Press Club in Canberra.
The event, which is open to advisers, practice principals and licensee executives, will give delegates the chance to hear from and engage with the incoming chair.
Court will provide an exclusive briefing on the regulator’s investigation into the $1 billion Shield and First Guardian collapse at the summit and will also discuss the regulator’s priorities in financial advice, including oversight of AFSLs, use of AI, self-managed super fund advice, managed accounts and public and private markets.
She has been the lead enforcer for the regulator, overseeing $250 million in combined penalties for misconduct against ANZ late last year, as well as legal proceedings in the aftermath of the Shield and First Guardian failure.
Court has been essential in not only enforcing the law against those responsible across the financial services ecosystem for the collapse of Shield and First Guardian, but also managing the expectations of consumers who have felt let down by the system and bringing proceedings against trustees and researcher that have allegedly failed as gatekeepers.
She has also been one of the key spokespeople that has informed the government during Parliamentary inquiries into oversight of the regulator’s performance.
Court was instrumental in leading ASIC’s agreements with Macquarie and Netwealth to remediate Shield clients on its platforms, avoiding prolonged court proceedings that would’ve left the retirement savings of investors in purgatory.
Before joining ASIC as deputy chair, Court was a Commissioner at the Australian Competition and Consumer Commission.
Longo said Court would bring deep regulatory expertise to the role from her career of public service.
“Sarah is an exceptional regulator with a strong record in enforcement that demonstrates her integrity and impact,” Longo said in a media statement.
“Her work as ASIC’s deputy chair has been instrumental to the success of the agency’s structural transformation that has strengthened our enforcement posture and work, leading to better outcomes for consumers and a fairer financial system.
“ASIC will be in very capable hands under her leadership. Over the coming months, I will support Sarah, the Commission and all our staff to ensure a smooth and orderly transition.”
Treasurer Jim Chalmers said Court is an experienced litigator and leader, and will make a positive impact on the regulator.
“Over the past five years, Sarah has substantially strengthened ASIC’s enforcement and investigation capabilities,” Chalmers said.
“Under her leadership, ASIC has delivered some of its strongest enforcement results on record —reflecting a sharper focus on protecting consumers, lifting standards across the financial system, and reinforcing the integrity of Australia’s markets.”
Herbert Smith Freehills Kramer partner Michael Vrisakis said the appointment of Court was a “logical and sensible” succession to Longo.
“The industry will be hoping with some justification that Sarah Court’s appointment will bring an increased focus on the enhancement of productivity through its enforcement program aimed at supporting a level playing field,” Vrisakis said.
“[And] protecting the economic welfare of consumers of financial services through timely and decisive action against, and consequential deterrence delivered to, bad, recalcitrant and exploitative actors.”
Super Consumers Australia chief executive Xavier O’Halloran said the consumer body welcomes Court’s appointment and that she has a proven track record in taking on important consumer protection cases in superannuation.
“Under her stewardship ASIC has had a noticeable impact in driving better consumer outcomes, including compensation for the victims of major financial sector failures like Shield and First Guardian,” O’Halloran said.
SMSF Association CEO Peter Burgess said Court has strengthened ASIC’s enforcement and investigative capabilities, contributing to some of its strongest enforcement outcomes on record.
“ASIC’s investigations into schemes such as Shield and First Guardian highlight the need for a strong, well-resourced regulator to detect misconduct early and deter exploitation of Australians’ retirement savings,” he said.
“Effective enforcement is essential to maintaining confidence in the superannuation system, including the SMSF sector.”
Court will be the first woman to lead ASIC in its 35‑year history. Minister for Finance Katy Gallagher noted on LinkedIn that all five of Australia’s key economic institutions – ASIC, the Commonwealth Treasury, the Reserve Bank of Australia, the Australian Competition & Consumer Commission and the Productivity Commission – will all be led by women.
