ASIC announces executive appointments
Tony D'Aloisio
The Australian Securities and Investments Commission (ASIC) has announced a number of senior executive appointments as part of a managerial restructuring following the completion of a recent strategic review.
ASIC’s new financial economy structure is made up of 12 stakeholder teams and eight deterrence/ enforcement teams, with each team headed by a senior executive leader. The introduction of senior executive leaders replaces two previous layers of senior management by combining executive directors and directors into a new level. As part of the restructure, ASIC has maintained the same overall staff numbers.
ASIC chairman Tony D’Aloisio said the objective of the strategic review is to better position ASIC to respond to changes in the market now and over the next three to five years.
“These appointments involve internal promotions and external recruiting. Together, these leaders will provide the quality and depth and breadth of experience and industry knowledge to implement the initiatives that have come out of our strategic review,” he said.
The new appointments and the new structure will become effective on September 1, 2008.
Recommended for you
The Reserve Bank of Australia (RBA) has lowered rates to a level not seen since mid-2023.
Financial Services Minister Stephen Jones has shared further details on the second tranche of the Delivering Better Financial Outcomes reforms including modernising best interests duty and reforming Statements of Advice.
The Federal Court has found a company director guilty of operating unregistered managed investment schemes and carrying on a financial services business without holding an AFSL.
The Governance Institute has said ASIC’s governance arrangements are no longer “fit for purpose” in a time when financial markets are quickly innovating and cyber crime becomes a threat.
