Consumer Advisory Panel
The Consumer Advisory Panel (CAP) was established in 1999. CAP advises ASIC on current issues faced by retail investors and consumers in the financial services and credit industries. CAP also informs ASIC’s surveillance, enforcement, policy and financial education initiatives.
Membership of CAP
The members include both representatives from consumer and investor organisations and individual members.
The other current members of CAP for 2014 to 2016 represent:
Australian Council on the Aging
Australian Shareholders' Association
Consumer Action Law Centre VIC
Consumers Federation Australia
Financial Counselling Australia
Financial Rights Legal Centre
Indigenous Consumer Assistance Network
Legal Aid NSW
Melbourne Super Group
SMSF Owners' Alliance Ltd
In 2013–14, CAP introduced two sub-committees – a consumer issues sub-committee and an investment issues sub-committee.
This was designed to enable CAP to focus more closely on issues consumers and investors respectively face.
In 2014-15, CAP commissioned the following research:
- Professor Dimity Kingsford Smith and Dr Marina Nehme to conduct research on product intervention powers. Download the report.
In 2013–14, we also introduced new arrangements for how CAP members provide misconduct reports. This included internal processes for tracking progress of reported misconduct, and regular reporting back to CAP members as we progress and finalise matters.