One ASIC more than enough, says corporate cop chief

Joe Longo says more funding would enable ASIC to launch more investigations and catch more crooks. (Diego Fedele/AAP PHOTOS)

The chairman of Australia's corporate cop warns splitting the regulator would create inefficiencies, while a funding boost would allow it to launch more investigations into bad behaviour.

"The inefficiency of one entity doing the investigating and another entity actually doing the court cases, I just don't see any merit in that," the head of the Australian Securities and Investments Commission said on Thursday.