24 April 2013

Appointments of Deputy Chairman and Member of the Australian Securities and Investments Commission

The Gillard Government is pleased to announce the appointments of Mr Peter Kell as Deputy Chairman of the Australian Securities and Investments Commission (ASIC) for a five-year period from 6 May 2013; and Ms Cathie Armour as a full-time Commissioner of ASIC for a four-year period from 3 June 2013.

ASIC enforces and regulates company and financial services laws to protect consumers, investors and creditors. ASIC is an independent Australian Government body, which has regulated financial markets, securities, futures and corporations since January 1991. From 1998, ASIC became responsible for consumer protection in superannuation, insurance and deposit taking and from 2010, consumer credit.

Mr Kell joined ASIC as a Commissioner in 2011, and has extensive experience in both the financial sector and consumer protection issues. Prior to his appointment to ASIC, Mr Kell was Deputy Chair of the Australian Competition and Consumer Commission, and has worked in the Organisation for Economic Cooperation and Development. Before joining the ACCC, Mr Kell was the CEO of consumer group CHOICE.

Ms Armour is an executive director and general counsel of Macquarie Capital within the Macquarie Group. She has had extensive experience in the financial sector, including responsibility for Macquarie Capital Compliance and Risk. Prior to working at Macquarie, she was legal counsel at JP Morgan.

With the appointments of Mr Kell and Ms Armour, and the departure of Ms Belinda Gibson, the current Deputy Chairman, ASIC will have five full-time members, including the Chairman and the Deputy Chairman.

24 April 2013