The Australian Securities and Investments Commission (ASIC) has announced the formation of a new business forum to allow it to establish and maintain closer links to the wider business community.
The Business Consultative Panel will have both a Sydney and Melbourne chapter, and is scheduled to meet three times a year to discuss current and potential issues and risks in the business sector.
“Our first meetings, held recently in Sydney and Melbourne, were extremely encouraging, and the participants embraced the opportunity to speak openly about matters of concern and mutual interests,” said ASIC chairman Jeffery Lucy.
The Sydney panel will be chaired by Lucy and will include business leaders such as Investec chairman David Gonski, Westpac chief executive David Morgan, and chairman of Perpetual Trustees Australia Robert Savage.
Deputy chairman of ASIC Jeremy Cooper will lead the Melbourne-based chapter, which will include The Money Managers founder Kevin Bailey, Vanguard Investments Australia managing director Jeremy Duffield, and BHP Billiton company secretary Karen Wood.
The corporate watchdog has stipulated that its practice of holding regular meetings with members of the business community across the country will continue in addition to the convening of this new initiative.
Lucy said: “I have no doubt that ASIC will benefit from the input of these senior people. Obviously we are all careful to ensure that our areas of dialogue are confined to matters where external comment and input is appropriate.”
