Australia's corporate watchdog, the Australian Securities and Investments Commission (ASIC), is facing criticism for not prosecuting enough white-collar crime and failing comprehensively in its role as a regulator. A Senate committee has recommended that ASIC be split into two new, more streamlined regulators to improve its enforcement capabilities. The proposed reforms also suggest that whistleblowers should receive compensation. Bank whistleblower Jeff Morris supports the dismantling of ASIC's current structure, arguing that it would help lift its enforcement record and improve its culture. Jason Harris from the University of Sydney notes that ASIC's broad mandate and ineffective governance are contributing to its inefficiencies.