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The corporate regulator has warned it is flying blind with inadequate powers to oversee Australia’s growing and opaque $150bn in private market assets, putting investor protection at risk. 

Meanwhile, a top executive hired by Sanjeev Gupta has quit and another director, originally headhunted to lead the turnaround of Whyalla, has stepped down from several board positions as the British tycoon fights to keep his empire alive.

And Atlassian founder Mike Cannon-Brookes has won a court fight against his once-trusted family office executive Kevin Chiu, who has been ordered to hand over personal devices and not destroy any confidential information, after he allegedly leaked sensitive files to the billionaire's estranged wife Annie and another former executive.