James Shipton, former ASIC chair, says he endured an “abusive advertising campaign” without any government support.

A Senate committee has been tasked with evaluating ASIC's capabilities in investigating allegations of corporate misconduct and its effectiveness in taking enforcement actions.

Shipton, who served as ASIC chair until October 2020, has disclosed to the committee that he was subjected to a six-month-long onslaught of “intimidatory advertising”, which targeted his character, competence, and integrity. 

Although he did not explicitly identify the individuals or entities behind the campaign, he drew parallels between the advertisements he endured and those funded by billionaire mining tycoon Clive Palmer.

Shipton recounted the distressing impact of these advertisements, which numbered at least 43 and were prominently featured in leading newspapers with a striking yellow background. 

He described how these relentless attacks affected not only him but also his family and friends, pushing him to the brink of despair. 

In one moment, he revealed, "One Sunday morning, after months of relentless advertising, I broke down in front of a newspaper stand as my own face and fanciful words about me stared back from a yellow newspaper page”. 

“That was when the advertisements finally became too much. That was when I wanted to end my life.”

During this ordeal, Shipton turned to ASIC for support, but he claims that it was only provided “half-heartedly” and months after the torment began. 

He said that this experience taught him that workplace bullying need not originate from within an organisation.

Furthermore, Shipton asserted that the government failed to offer him protection or support and did not meet the minimum workplace health and safety standards. 

“Not one email, not one concerned phone call, no protective measures, nothing,” he said.

Responding to Shipton's allegations, an ASIC spokesperson has affirmed the organisation's commitment to staff wellbeing. 

“ASIC takes seriously the wellbeing of all its staff and we believe we have consulted with relevant third parties where necessary in this matter,” they said.