Former ASIC chair James Shipton warns corporate watchdog is flawed and needs reform

Former ASIC chair James Shipton has backed the findings of a scathing senate report into the corporate regulator which he's decribed as flawed and in need of reform. A senate economics committee report has urged an overhaul of ASIC and wants it broken up into two agencies claiming pressures on the regulator have facilitated white collar crime. Reporter: Peter Ryan, Senior Business Correspondent Featured: James Shipton, former chair, Australian Securities & Investments Commission