ASIC appoints three new commissioners
The Australian Securities and Investments Commission (ASIC) has employed three new commissioners as the regulator doubles its top tier to cope with an extended workload.
Minister for Superannuation and Corporate Law Nick Sherry this morning announced the appointment of Greg Medcraft, Peter Boxall and Michael Dwyer as full-time commissioners.
Mr Medcraft is a former investment banker while Mr Dwyer has extensive experience in chartered accounting. Dr Boxall is an economist who has held senior roles in various government departments.
Senator Sherry says the appointments will boost ASIC’s “already high level of skills and experience”.
“These appointments will ensure ASIC remains best placed to deal with the fallout from the financial crisis and its new role as the national consumer credit regulator,” he said. “This is all about making a strong independent regulator even stronger.”
The appointments follow the Government’s commitment of $30 million in additional funding to assist ASIC to manage implications of the global financial crisis, and a further $66 million to assist in the regulation of consumer credit.
ASIC previously had three commissioners since the establishment of its predecessor, the Australian Securities Commission, in 1991. The new commissioners join Chairman Tony D’Aloisio, Deputy Chairman Jeremy Cooper and Commissioner Belinda Gibson.
Minister for Superannuation and Corporate Law Nick Sherry this morning announced the appointment of Greg Medcraft, Peter Boxall and Michael Dwyer as full-time commissioners.
Mr Medcraft is a former investment banker while Mr Dwyer has extensive experience in chartered accounting. Dr Boxall is an economist who has held senior roles in various government departments.
Senator Sherry says the appointments will boost ASIC’s “already high level of skills and experience”.
“These appointments will ensure ASIC remains best placed to deal with the fallout from the financial crisis and its new role as the national consumer credit regulator,” he said. “This is all about making a strong independent regulator even stronger.”
The appointments follow the Government’s commitment of $30 million in additional funding to assist ASIC to manage implications of the global financial crisis, and a further $66 million to assist in the regulation of consumer credit.
ASIC previously had three commissioners since the establishment of its predecessor, the Australian Securities Commission, in 1991. The new commissioners join Chairman Tony D’Aloisio, Deputy Chairman Jeremy Cooper and Commissioner Belinda Gibson.