The Albanese Government will be appointing new senior leaders at two of Australia’s most important regulators.
High quality leadership at our core economic institutions is crucial to the more modern and competitive economy we are building together.
The search has started for the next Chair of the Australian Securities and Investment Commission (ASIC) and Deputy Chair of the Australian Prudential Regulation Authority (APRA).
ASIC Chair Joseph Longo has advised he will not be seeking reappointment when his term finishes at the end of May next year.
Since his appointment in 2021, ASIC has carried out significant enforcement actions to uphold the integrity of our corporate, market and financial services sector.
Mr Longo has overseen ASIC during a period of heightened economic, geopolitical and technological change, and I thank him for his leadership.
Recruitment processes to appoint a new Deputy Chair for APRA are underway after Margaret Cole advised she would not seek an extension beyond the end of her current term at the end of June 2026.
Through her tenure, Ms Cole has made a significant contribution to APRA both as a member and then as Deputy Chair over the last four years and the Government thanks her for that.
Treasury will work through these processes in the usual methodical and considered way.
Key appointments like these are another important way to refresh and renew our economic institutions.
Regulators play a really important role in our economy, and that’s why we will continue to appoint the best people we can to lead them.