Reports this week question the process behind ASIC CEO Warren Day's appointment.

Documents obtained by the ABC reportedly reveal that Warren Day, the current CEO of the Australian Securities and Investments Commission (ASIC), was appointed to his role without the position being advertised or other candidates being considered. 

Warren Day was promoted from Chief Operating Officer (COO) to CEO on 29 June last year by ASIC Chair Joe Longo.

Despite this, no formal position description was created for the role, and the position was neither advertised internally nor externally. 

There is no suggestion Mr Day, who is currently on secondment to the Commonwealth Director of Public Prosecutions (CDPP), has done anything wrong.

But the streamlined process for Day's CEO appointment has raised concerns among experts and critics of ASIC. 

Day's elevation to CEO comes during a period of significant unrest at ASIC, with the organisation grappling with low staff morale and past leadership controversies. 

Warren Day is currently on secondment to the Commonwealth Director of Public Prosecutions (CDPP).

The ABC reports that he does not intend to return to the organisation after completing his secondment.