Markets Disciplinary Panel

The Markets Disciplinary Panel (MDP) is a peer review panel from which sitting panels are drawn to make decisions about whether infringement notices should be given for alleged breaches of the market integrity rules by market participants.

Policies and procedures

The policies that are applied, and the procedures that are followed, by the MDP in exercising its powers and performing its functions are set out in ASIC Regulatory Guide 216.

Membership

The membership of the MDP comprises persons with significant market or professional experience. The members of the MDP have, or have had, senior roles in broking firms and investment banks.

The members list below is current as at 17 September 2025.

Victoria Weekes: MDP Chair, MDP Member

Over 30 years’ experience in investment markets and financial services including senior executive roles at County NatWest Australia, Citigroup and Westpac. Non Executive Director & Risk Chair of Bendigo and Adelaide Bank (ASX:BEN) and Chair of AXA subsidiary Pinnacle Housing. Immediate past President of the Financial Services Institute of Australasia (FINSIA). Former Director, ANZ Share Investing Limited (formerly ETRADE), URB Investments Limited (ASX:URB) and former Chair, One Path Investment Management and OnePath Custodians.

Anthony Brittain: MDP Deputy Chair, MDP Member

Chief Operating and Financial Officer and Executive Director of Euroz Hartleys Limited with over 25 years of broad experience across the securities and managed investments industry and a background in finance, IT, compliance and operations. Previously Executive Director of Euroz Hartleys Group Limited (ASX:EZL), Entrust Wealth Management Pty Ltd, Prodigy Investment Partners Limited, Flinders Investment Partners Pty Ltd, Dalton Street Capital Pty Ltd and JDV Limited (ASX:JDV). A member of the Professional Conduct Tribunal of the Stockbrokers and Financial Advisers Association.

Sebastien Bonvalet-Nicolle: MDP Member

Over 20 years’ experience in financial markets, specialising in derivatives, clearing and market structure. Former Head of Listed Derivatives and OTC Clearing APAC at Deutsche Bank, where he led businesses across seven countries and held board directorships in India and Hong Kong subsidiaries. Former chair of the Australian Financial Markets Association (AFMA) Futures Steering Committee. Commissioned by ASX in 2025 to author a board-level paper on ASX Clear (Futures) ecosystem concentration risk. A Graduate of the Australian Institute of Company Directors (GAICD), he has extensive experience in governance, risk oversight, and industry engagement.

Jacqui Byrnes: MDP Member

Founding Partner and Chief Operating Officer, Fixed Income, Barrenjoey Capital Partners. Former Executive Director, UBS AG. Over 25 years’ experience in domestic and international Fixed Income markets, with expertise in sales and trading practices and risk management, global regulatory change delivery and front-to-back oversight.

Leigh Conder: MDP Member

Head of Finclear Services Pty Ltd, formerly COO Pershing Securities Australia Pty Ltd, Director, Commonwealth Securities Limited, Director, AUSIEX Ltd and Director, CBA Equities Limited, General Manager, Corporate Banking Solutions, General Manager, Financial Markets Operations and Equities and Margin Lending Operations, Commonwealth Bank Limited and former member of the ASX Disciplinary Tribunal, with over 30 years of experience in the industry with a strong background in operations.

Andrew Couper: MDP Member

Currently employed by Regal Partners Limited as Head Markets Compliance, he brings over 25 years’ experience in Listed Markets (ASX, CBOE, ASX24) Equity Capital Markets, Debt Capital Markets, Mergers/ Acquisitions and Syndicate. Prior to joining Regal Partners Limited he was Head of Compliance (Australia) at Credit Suisse leading a group of compliance professionals across various facets of the organization.

Having also worked at ASX24/SFE within the Compliance and Surveillance team from 2000 to 2005 and 10 years working on the Futures Trading Floor (SFE) for various firms between 1989 to 1999. His time in the market has allowed him to obtain a depth of experience across various facets of markets, compliance, controls, governance and conduct.

Bronwyn Hill: MDP Member

Risk and Compliance consultant with experience in risk management frameworks, assurance programs, independent expert engagements (including Court Enforceable Undertakings), governance and regulatory compliance. Former Chief Risk Officer of consumer lender etika Australia. Over 20 years’ experience in exchange-traded financial markets including senior supervision roles with ASIC Market Supervision, Sydney Futures Exchange (SFE) and ASX.

Val Kingsmill: MDP Member

Head of Execution Sales & Strategic Initiatives, (Equities, ANZ) at Macquarie. Over 20 years’ experience in equity execution, sales and trading roles in Sydney, New York and London. Expertise in market microstructure, algorithmic trading, active ETFs. Val is a member of the ASX Tribunal.

John Manchee: MDP Member

Head of Trading at Regal Funds Management. With over twenty-five years’ experience across senior trading, facilitation, and derivative roles within a variety of Investment Banks, John is responsible for all dealing and trade implementation across the breadth of Regal Funds equity strategies. Prior to joining Regal in 2022, John was an Executive Director at Morgan Stanley International as Australian Head of Facilitation and Trading. Preceding this, John spent seven years at Credit Suisse as Head of Cash Trading and Facilitation. John has also held Executive Director roles at JP Morgan and Citigroup, including as Head of Derivatives and Trading.

Barry Parker: MDP Member

Since November 2023, CEO of Eclipse Trading, a market making group that trades the listed Equities and Derivatives markets across the Asia-Pacific region. Previously CEO ABN AMRO Clearing Asia-Pacific covering their Hong Kong, Sydney, Singapore and Japan offices and a member of ABN AMRO Clearing Bank’s Global Management Team. A qualified Chartered Accountant who has held Senior Executive roles in the financial markets since 1998.

Annette Spencer: MDP Member

Bio in progress

John Steinthal: MDP Member

Consultant Financial Advisor. Former Managing Director, Head of Australia Equities, Moelis & Company, Australia. Former Managing Director, Head of Australasian Equities, UBS Australia. Over 20 years’ experience in the industry, with an extensive background in equities and derivative trading, equity capital markets, risk and compliance. Former member of ASX Disciplinary Tribunal.

MDP Outcomes Register

This register contains details of the outcomes of decisions of the MDP in relation to alleged breaches of the market integrity rules.

Details of matters where the MDP has decided that an infringement notice should be given will be published on the register. Such entries will usually be accompanied by a media release.

Where the MDP makes no adverse findings in relation to a matter, the register will include a summary of that finding, usually without disclosing the name of the market participant.

View the MDP Outcomes Register