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ASIC execs depart

ASIC has confirmed to insuranceNEWS.com.au the resignation of key senior executives as part of its wide-ranging restructuring program.

Executive Director Enforcement Jan Redfern, Director of Enforcement Keith Inman and Executive Director Compliance Jennifer O’Donnell will depart the regulator, alongside Regional Commissioner for WA Angus Dale-Jones.

The corporate regulator is undergoing a shake-up as it aims to more proactively supervise markets and regulate companies.

The regulator will trim the senior headcount from 54 to 41 positions and recruit external talent to some of those roles.

ASIC Chairman Tony D’Aloisio last week told a parliamentary committee all executive director and director positions were up for grabs. Some 19 senior roles have been placed internally to date.

ASIC has also scrapped four silo directorates in favour of 17 teams responsible for specific economic portfolios.

The restructure will be completed by October.