Australian Securities and Investments Commission (ASIC) Chairman Tony D’Aloisio has been invited to chair major international regulatory body the Joint Forum.

The Joint Forum brings together the Basel Committee for Banking Supervision, the International Organisation of Securities Commissions and the International Association of Insurance Supervisors.

The appointment comes as the World Economic Forum ranks Australia second among the world’s financial centres. [See FINANCIAL SERVICES]

Federal Financial Services Minister Chris Bowen says the appointment is recognition of the “constructive role” Australia plays on the global stage.

“The nomination is evidence of the respect the international financial community has for Australia’s prudential and markets regulation and acknowledgement that our financial system successfully weathered recent turmoil,” he said.