The capabilities of the Australian Securities and Investments Commission (ASIC) are to be subjected to a formal Government review.
The review has been confirmed by Assistant Treasurer, Josh Frydenberg who said the expert reveal panel would be led by Karen Chester as chairperson with the other members being Mark Gray and David Galbally, QC.
He said the panel would consult extensively with private sector businesses regulated by ASIC, peak bodies, regional and consumer representatives and other stakeholders.
The minister said the move formed part of the Government’s responsible to the Financial System Inquiry which recommended periodic review of the capabilities of financial regulators .
Chester is a former senior executive at Mercer and a full-time member of the Productivity Commission, while Gray is a former senior Queensland public servant.
