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ASIC has announced the appointment of members to its newly established Financial Services and Credit Panel (FSCP), including several from the professional services and accounting industry.
Following a proposal to establish a panel earlier this year, ASIC has selected 18 individuals, who will be tasked to hold administrative hearings and decide whether to make banning orders against individuals for misconduct in providing financial services to retail clients or engaging in credit activities.
Perks Integrated Business Services director Bruce Debenham, and head of risk and compliance at DJ Carmichael Gabrielle Bouffler have been named as panel members.
Other members include NAB head of management assurance growth partnerships and marketing Christine McArthur, and Suncorp compliance consultant Gaye Simpson.
Other members include Annette Spencer, Brad Fox, Calvert Duffy, Dacian Moses, Don Crellin, Fiona Rowland, Gayle Cilfone, Jennifer Diggle, Johanna Turner, Naomi Layton, Peter Wade, Stephen Cavanagh, Brian Salter and Cherie Feher.
“A peer review panel such as the FSCP will enhance the impact of ASIC's administrative decisions because it draws upon the broad range of knowledge and experience of professionals in the financial services and credit industry,” said outgoing ASIC chairman Greg Medcraft.
“Our administrative decisions will benefit from the input of professionals who have a thorough understanding of current industry practices and standards.”
To support the FSCP, ASIC will release regulatory guidance which provides an overview of the FSCP and sets out the policies and procedures relevant to the operation of the panel.