ASIC names new chairman
The Australian Securities and Investments Commission (ASIC) has appointed Simon Gray as the new chairman of the Markets Disciplinary Panel (MDP), an independent peer-review forum of disciplinary action against market participants for alleged breaches of the ASIC market integrity rules.
Gray, who was currently the deputy chief officer of Shaw and Partners and was the deputy chairman of the MDP, had more than 15 years' experience with legal and compliance expertise in the industry including senior oversight of corporate finance.
He would replace Lisa Gay who had led the panel for the past six years.
According to ASIC, he would serve a two-year term starting from 1 August. At present, Gray was also a member of the ASIC Market Supervision Advisory Panel and of the ASX Appeal Tribunal.
Additionally, ASIC had also named one of its current panel members, Cilla Boreham, as the MDP deputy chairman.
ASIC commissioner, Cathie Armour, said: "Simon Gray is a seasoned markets practitioner and knows well the workings of the panel, and we look forward to his leadership and drive to uphold the high standards of market integrity as Lisa has done".
MDP, which was first established in 2010, currently consists of part-time members with relevant market professional experience who have or have had roles at brokering firms and investment banks.
According to ASIC, one of the key tasks of MDPs was to make decisions about whether to issue infringement notices or accept enforceable undertakings for alleged breaches of the ASIC market integrity rules.
AUTHOR
Oksana Patron
Recommended for you
Funds managers are being urged by financial advisers to improve their “outdated” education and communication about alternative funds as they actively target them towards retail clients.
GAM Investments has appointed Eric Finnell as its managing director for Australia after his predecessor left to take up the CEO role at Global X.
Fidelity International has looked internally to appoint a head of strategic sales and solutions for its Australian division, which is a newly created role for the business.
Global investment manager Barings has launched two private credit funds for Australian investors as advisers indicate an expectation of increasing allocations to private markets.
