The Minister for Revenue and Financial Services has announced that the government will create a new deputy chairperson role at the Australian Securities and Investments Commission.
According to Minister Kelly O’Dwyer, the new role will “build on and strengthen ASIC’s leadership to assist it to operate as a world-class regulator”.
She added: “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 will introduce the necessary legislation to create the new role in the coming weeks.
Minister O’Dwyer also announced that deputy chair Peter Kell has been reappointed for a further year (up to and including 5 May 2019), while commissioner John Price has been reappointed for a further two-year period ending 20 March 2020.
[Related: Make ASIC a ‘champion for competition’: PC]
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