Kell to leave ASIC before year’s end
Peter Kell has resigned as deputy chair of the Australian Securities and Investments Commission (ASIC), effective from 6 December, this year, following seven years of service at the regulator.
Sean Hughes would commence as one of ASIC’s six Commissioners later this year, with Danielle Press also starting in the role this week.
In his time at ASIC, Kell had been part of its leadership team, first as a member and then from 2013 as deputy chair. He also served as acting chair of the Commission during this time.
Federal treasurer, Josh Frydenberg, said that the Coalition Government thanked Kell for his contribution to ASIC and wished him well in his future endeavours.
Earlier this week, Frydenberg also called the regulator to explain why it did not act on key issues uncovered by the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
AUTHOR
Hannah Wootton
Recommended for you
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.
Compliance professionals working in financial services are facing burnout risk as higher workloads, coupled with the ever-changing regulation, place notable strain on staff.
The Senate economics legislation committee has recommended Schedule 1 of the Delivering Better Financial Outcomes legislation be passed as it is a “faithful implementation” of the recommendations.
Treasurer Jim Chalmers has handed down his third budget, outlining the government’s macroeconomic forecasts and changes to superannuation.
