More teeth for industry watchdog
The Australian Securities and Investments Commission (ASIC) has added more teeth to its financial services compliance team, with Carole Ferguson joining the corporate watchdog in the new position of director, institutional and wholesale compliance.
In her new role, Ferguson will develop ASIC’s presence in the wholesale and institutional area of the financial services industry and will help shape the Commission’s approach to major institutions. She will join work with executive director of compliance, Jennifer O’Donnell.
Ferguson comes to ASIC with extensive experience in the financial services industry, both as in-house counsel and in private practice. Most recently she held the role of senior legal counsel at Colonial First State Investments and has previously worked with Prudential Corporation Australia.
ASIC’s acting chairman, Jeremy Cooper, welcomed Ferguson to the role.
“Carole is a well-known financial industry participant, through her roles in the private sector and as member or chair of various committees of the Investment and Financial Services Association,” he said.
“This is an exciting appointment for ASIC, which will add strength and value to our work and ties with industry.”
Ferguson’s financial products experience includes managed investments, superannuation, life insurance and specialist products such as hedge funds, property funds and infrastructure funds. She also has significant experience with issues relating to dealers and advisers.
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
