D'Aloisio takes key international regulatory role
|
|
Australian Securities and Investments Commission (ASIC) chairman Tony D'Aloisio has been appointed to lead an international body that will play a role in the regulatory responses to the global financial crisis.
The Minister for Financial Services, Superannuation and Corporate Law, Chris Bowen, announced D’Aloisio’s appointment as chair of the Joint Forum.
Bowen said the Joint Forum is currently looking to “address regulatory gaps across the banking, securities and insurance sectors and is the key contributor to the development of the consistent global regulation of hedge funds”.
The body operates at the direction of the International Organisation of Securities Commissions (IOSCO), the International Association of Insurance Supervisors and the Basel Committee for Banking Supervision, Bowen said, in addition to working closely with the G-20’s Financial Stability Board.
“Mr D'Aloisio's 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 the recent turmoil,” Bowen said.
Nominations to the chair are made every two years by one of the parent organisations, with D'Aloisio's nomination made by IOSCO.
Recommended for you
The corporate regulator has cancelled the AFSL of a Queensland-based financial services provider, having held the licence since mid-2016.
Advisers need to closely scrutinise how much volatility exists in private assets during their portfolio construction and how this is demonstrated by the providers, according to commentators.
Consulting firm Bain & Company has shared how it believes the wealth management industry can be transformed and three questions firms should consider.
Prime Minister Anthony Albanese has confirmed who will succeed Stephen Jones to serve as the Assistant Treasurer and Financial Services Minister.
