IAG CEO on speed dial to ASIC about top lawyer’s sacking
Liam WalshReporter
Key Points
- IAG general counsel Peter Horton was dumped from insurer in December
- Documents show IAG called ASIC early, saying no regulatory problems were linked
- Some IAG staff seem to have been surprised by the move
Insurance giant IAG’s chief executive gave advance warning to the corporate regulator’s top brass that it was about to sack its top lawyer over a breach of the company’s code of conduct, internal documents reveal.
The Australian Securities and Investments Commission was assured in the late afternoon call in early December that no regulatory breach had caused the firing of Peter Horton, IAG’s then group general counsel.
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