ASIC appoints members to FSCP

The Australian Securities and Investments Commission (ASIC) has appointed members to the Financial Services and Credit Panel (FSCP) to enable access to a pool of industry participants it can draw upon when forming individual sitting panels.

The corporate regulator announced the panel following expressions of interest from leaders in the financial services and consumer credit industry.

Each sitting panel would consist of two members from the FSCP and an ASIC staff member. The sitting panel would hold administrative hearings and decide whether to make banning orders against individuals for misconduct in providing financial services to retail clients or carrying out credit activities.

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ASIC chairman, Greg Medcraft, said: “A peer review panel such as the FSCP will enhance the impact of ASIC’s administrative decisions because it draws upon the broad range of knowledge and experience of professionals in the financial services and credit industry”.

“Our administrative decisions will benefit from the input of professionals who have a thorough understanding of current industry practices and standards.”

ASIC has selected the following people for the panel:


  • Annette Spencer
  • Brad Fox
  • Bruce Debenham
  • Calvert Duffy
  • Christine McArthur
  • Dacian Moses
  • Don Crellin
  • Fiona Rowland
  • Gabrielle Bouffler
  • Gaye Simpson
  • Gayle Cilfone
  • Jennifer Diggle
  • Johanna Turner
  • Naomi Layton
  • Peter Wade
  • Stephen Cavanagh
  • Brian Salter


ASIC said it would release regulatory guidance which would provide an overview of the FSCP and set out the policies and procedures relevant to the operation of the panel.


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Very few individuals on that list who could meet the definition of a 'peer'. The list is stacked with compliance professionals including quite a number from large institutions, the source of the bulk of individuals who are the subject of banning orders... Great idea ASIC, but very poorly executed.

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