D'Aloisio takes key international regulatory role
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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.
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