ASIC Chairman, Mr Tony D’Aloisio, today welcomed Minister Sherry’s announcement for the appointment of three additional full time Commissioners to ASIC.

‘We are pleased that the Government has accepted our recommendation, which came out of our strategic review, to increase the size of Commission,’ Mr D’Aloisio said.

‘We are delighted to have Dr Peter Boxall AO, Mr Michael Dwyer and Mr Greg Medcraft on the ASIC team. As a Commission of six, ASIC will have considerable combined experience in all the markets it regulates both in the financial economy and in the real economy as well as in consumer protection and public policy and economics. It is an outstanding combination of corporate, legal, insolvency, investment banking and financial markets experience,’ Mr D’Aloisio said.

External Advisory Panel

In addition, Mr D’Aloisio said he was pleased to announce the appointment of Dr John Stuckey as the Chairman of the new External Advisory Panel, introduced to advise ASIC’s Commission on market developments and potential systemic issues.

‘One of the changes resulting from ASIC’s strategic review was for ASIC to be more knowledgeable of the markets which we regulate and the External Advisory Panel will play an important role in that regard. John brings a strong record of success to this important role and is an ideal choice to lead the Panel in this challenging environment,’ he said.

Dr Stuckey is a former partner of management consultants McKinsey & Company where for 25 years he advised senior executives of major Australian companies on strategy and organisation issues. John was the managing partner of the Australasian practice, chairman of Asia and on the firm’s global board. He was trained as an economist at the University of New England and holds a PhD in business economics from Harvard.The process of appointment of members to the Panel is in hand and the members will be announced shortly.

’I am confident that these appointments will better position ASIC to deliver its strategic agenda,’ Mr D’Aloisio said.