Nick Falconer

Top public servant spends almost $250,000 on travel

ALMOST $250,000 was spent on travel for the head of Australia's investment regulator, funding a series of overseas trips related to his work.

Data on the cost of travel for Australian Securities and Investments Commission's chairman Greg Medcraft were released on Friday.

The figures reveal the top business regulator visited London, Brussels, Dublin, New York, Washington DC, Paris, Madrid and Luxembourg last year.

While the total travel bill for all Mr Medcraft's overseas trips topped $246,490 in 2013, all the travel was above board.

Most of the money for the trips came from the Commonwealth, except a two-day trip to Hong Kong funded by the Hong Kong Trade Development Council.

The vast majority of meetings associated with the trips were in line with his role as chairman of the International Organisation of Securities Commissions.

He has held the leadership position on the international body since March last year, and in the role he met other countries' leading financial regulators at key meetings including the G20 in Russia.

The ASIC figures showed Mr Medcraft travelled with a single staffer during the trips, but did not identify the commission employee.


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