BUILDING AND STRENGTHENING ASIC

Today I am pleased to announce that the Turnbull Government intends to create a new Deputy Chairperson role at the Australian Securities and Investments Commission (ASIC).

“This will build on and strengthen ASIC’s leadership to assist it to operate as a world-class regulator,” the Minister for Revenue and Financial Services, the Hon Kelly O’Dwyer MP said.

“A second Deputy Chair will give ASIC greater flexibility to manage the breadth of ASIC’s new powers and increased responsibilities resulting from recent and upcoming law changes. It will also bring ASIC into line with the structure of the Australian Competition and Consumer Commission (ACCC).”

“This important step will also support ASIC to engage more closely with its stakeholders and assist it to better communicate its role, its priorities and how its resources are allocated.”

The Government intends to introduce the necessary legislation in the coming weeks.

I am also pleased to announce the reappointments of:

Mr Peter Kell for a further one-year period from 6 May 2018 up to and including 5 May 2019; and]Mr John Price for a further two-year period from 21 March 2018 up to and including 20 March 2020.

Both Mr Kell and Mr Price bring important skills and continuity in ASIC’s leadership. 

Mr Kell joined ASIC as a full‑time member in 2011 and commenced as the Deputy Chairperson in 2013.  Mr Price commenced as a member of ASIC in 2012.