Former ASIC deputy chair to head up AFCA panel

AFCA ASIC peter kell consumer policy

30 May 2024
| By Laura Dew |
image
image
expand image

Former ASIC deputy chair Peter Kell is to chair the Australian Financial Complaints Authority’s consumer advisory panel.

Kell was the deputy chair of ASIC from 2013 to 2018, having joined the corporate regulator as a commissioner in 2011, and worked as deputy chair of the Australian Competition and Consumer Commission prior to this. He is also a former chief executive of Choice consumer group. 

During his time at ASIC, he appeared twice before the Hayne royal commission and led the regulator’s legal cases against Westpac and National Australia Bank for alleged responsible lending breaches and fees for no service, respectively.

He also led ASIC’s work on product intervention powers and on reviewing vertically integrated businesses.

AFCA said Kell is the second independent chair of the group since the panel’s establishment in March 2019, replacing Peter Gartlan who has held the role for five years.

Gartlan was formerly an executive officer for the Financial and Consumer Rights Council and is a national coordinator for Financial Counselling Australia.

The role in the consumer advisory panel, which consists of 10 consumer representatives and meets quarterly, is to provide insight and analysis on strategic and policy issues as well as highlight emerging issues facing consumers.

In the 202223 financial year, AFCA said the panel discussed matters such as consumer impacts of the collapse of the Youpla Group, proposed regulatory changes, scams, de-banking and delays in insurance claim handling. 

AFCA chief ombudsman, David Locke, said: “We are very fortunate to have Peter Kell join us as independent chair of ACAP. He is a well-respected consumer advocate and former regulator who has deep knowledge of consumer protection and our regulatory environment.”

Read more about:

AUTHOR

Add new comment

The content of this field is kept private and will not be shown publicly.

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

JOHN GILLIES

tHOSE 989 WHO ARE CEASED WILL GO ON TO LIVE A LONG AND HEALTHY LIFE JG...

4 days 16 hours ago
Chris Cornish

What a sticth-up. Looks like Labor Senator Jess Walsh follows Stephen Jones who follows what the industry super funds ...

4 days 13 hours ago
Peter Swan

This report is a blatant display of far-left factional partisanship, treating superannuation funds as state property and...

4 days 14 hours ago

ASIC has cancelled the AFS licence of a Sydney wealth firm, the fifth Sydney firm to see a cancellation since the start of the year....

2 weeks 5 days ago

More than 20 winners from the funds management industry have been crowned at this year’s awards....

1 week 5 days ago

ASIC has obtained interim orders from the Federal Court to freeze the assets of a registered managed fund and prevent its former director from leaving Australia. ...

6 days 13 hours ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND