The Morrison Government has appointed Ms Margaret Cole as a full-time member of the Australian Prudential Regulation Authority (APRA) for a five-year period. Ms Cole’s term will commence from 1 July 2021.
APRA is an independent statutory authority that supervises institutions across banking, insurance and superannuation.
Ms Cole will join the APRA Executive Board alongside the Chair, Mr Wayne Byres, and the Deputy Chairs, Mr John Lonsdale and Ms Helen Rowell. Ms Cole will bring a strong enforcement background and global perspective to APRA, further strengthening APRA’s leadership capability.
Ms Cole has extensive experience in regulatory and legal fields across both the private and public sectors, having worked as Managing Director of Enforcement and Financial Crime and a Board Member of the UK Financial Services Authority. More recently Ms Cole has worked as General Counsel and Chief Risk Officer of PwC in the UK and subsequently PwC’s Global Regulatory Policy and Engagement Leader. Ms Cole also spent over 20 years in private practice as a solicitor specialising in commercial litigation with an emphasis on financial services.
Strong and effective financial regulators are vitally important to maintaining the community’s trust and confidence in the financial system.