ASIC appoints two new commissioners

The Australian Securities and Investments Commission (ASIC) has announced the appointment of Peter Kell and Greg Tanzer as the regulator’s new commissioners.

Kell and Tanzer will replace current ASIC commissioner Michael Dwyer, who has decided not to seek reappointment when his contract expires at the end of the year. Dwyer was praised by both ASIC chairman Greg Medcraft and Deputy Prime Minister and Treasurer Wayne Swan for his work in accounting, auditing, compliance and insolvency during the global financial crisis, as well as parliamentary scrutiny of the financial services industry over the last few years.

Both Tanzer and Kell will further build on ASIC’s capacity to implement the Government’s reforms to financial advice, consumer credit and measures to boost financial literacy, Treasury stated.

Kell, who joins ASIC for a five-year period from 7 November, is currently the Australian Competition and Consumer Commission’s (ACCC) deputy chair. He was previously chief executive of Choice and a board member of the global consumer organisation Consumers International. 

ASIC has appointed Tanzer as commissioner for a four-year term commencing from 23 January 2012. He was previously the International Organisation of Securities Commissions (IOSC) secretary general and spent time as ASIC’s executive director for consumer protection and international relations.

 According to Treasury, the government will use a merit-based selection process for the appointment of a new ASIC Commissioner to replace Dwyer over the next few months.