The Australian Securities and Investments Commission has appointed former Australian Prudential Regulation Authority chairman John Laker to its external advisory panel.

The 17-strong panel provides advice from senior figures in financial services, with a number of members boasting insurance knowledge.

They include industry veteran John Trowbridge, former Financial Ombudsman Service (FOS) director Fiona Guthrie and former FOS board member Jenni Mack, plus Paula Dwyer, an ANZ director who has served on the Suncorp board, and Wesfarmers General Insurance director Melinda Cilento.

Mr Laker left the prudential regulator at the end of June. Former Howard government treasurer Peter Costello is also to join the panel.