Fed: ASIC says chairman not involved in probe of partner
The corporate watchdog says its chairman DAVID KNOTT was NOT involved in its investigationsof his former business partner.
BRW magazine and the Australian Financial Review say Mr KNOTT spent almost two yearsin a law partnership with solicitor IAN COLLIE, who was involved in tax avoidance schemes.
Mr COLLIE later faced legal action over the tax schemes.
The publications say Mr KNOTT had not publicly disclosed the partnership, which lastedfrom 1981 to 1983.
The Australian Securities and Investments Commission says in a statement that its dealingswith Mr COLLIE wound up in April 1998.
ASIC says none of the matters involved Mr KNOTT, the current ASIC chairman, who joinedASIC as deputy chairman in July 1999 -- more than a year after the end of the investigations.
Mr KNOTT this week announced announced his early retirement from his ASIC post.
AAP RTV kmh/sb/rca/rp
KEYWORD: ASIC KNOTT (CANBERRA)
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