Australian Securities and Investments Commission deputy chair Sarah Court will become chair when Joe Longo finishes his term at the end of May.

Ms Court’s elevation, for a five-year term, will make her the first woman to lead the corporate regulator in its 35-year history.

She has been deputy chair since June 2021 and has led enforcement and investigation work on poor corporate practices, resulting in litigation against regulated entities including insurers.

Treasurer Jim Chalmers says Ms Court is “an experienced litigator and leader … Over the past five years, Sarah has substantially strengthened ASIC’s enforcement and investigation capabilities.

“Under her leadership, ASIC has delivered some of its strongest enforcement results on record – reflecting a sharper focus on protecting consumers.”

ASIC says Ms Court’s work as deputy chair has involved contributing “extensively” to strategic priorities, statutory decision-making and leadership on complex legal and strategic issues.

Her key focus areas include enforcement, scams, small businesses, insolvency, climate disclosure and greenwashing.

She joined ASIC in 2021 from the Australian Competition and Consumer Commission, where she served three terms as commissioner.

Mr Chalmers says Ms Court’s regulatory career “has been all about lifting standards and protecting consumers and making sure that corporate Australia is well regulated”.