The Australian Securities and Investments Commission is calling for expressions of interest from financial services and consumer credit industry participants who are interested in becoming members of the new ASIC Financial Services and Credit Panel.
We will draw on these members who, with an ASIC staff member, will consider making banning orders against individuals for misconduct in the provision of financial services to retail investors or in consumer credit activities.
We are looking for individuals with relevant experience in the financial services or consumer credit industries who want to contribute to standard setting in their industries. While banning decisions need to be made in accordance with the law, we expect industry participants will bring a range of experiences and perspectives to the banning decision process and will help to ensure ASIC’s administrative decisions are based on a thorough understanding of current industry practices and standards.
ASIC Chairman Greg Medcraft said, ‘I encourage financial services and consumer credit industry participants to express interest in becoming members of the Financial Services and Credit Panel. This is an opportunity for industry to contribute to a peer-review model, and work with ASIC to enhance the reach and impact of its decisions.’
Applications close at 10am (AEST) on 31 August 2017.