ASIC staff to be embedded in banks by end of month, starting with CEO's office

The Australian Securities & Investments Commission will embed its staff in the major banks and AMP by the end of the month and will begin at the chief executive's office. 

ASIC chairman James Shipton rejected claims that the corporate cop has been "asleep at the wheel" with a tendency to use enforceable undertakings rather than taking tougher action such as cancelling a bank's licence.

Here's my interview with James Shipton broadcast on The World Today