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The federal government has named a Victorian-based Queen’s Counsel as the new deputy chairperson of the Australian Securities and Investments Commission.
Daniel Crennan QC was appointed for a period of five years to the role, starting 16 July of this year.
“The appointment of the second deputy chairperson follows strong action taken by the Turnbull government to boost the resources and capabilities of ASIC.”
Mr Crennan’s appointment also compliments and builds, Ms O’Dwyer’s statement continued, upon the government’s reforms to strengthen criminal and civil penalties for corporate misconduct, and to boost the powers of ASIC to protect Australian consumers from corporate and financial misconduct.
“The appointment of a second deputy chairperson to ASIC will strengthen ASIC’s leadership team and give the regulator greater flexibility in exercising its new powers and increased responsibilities, as a result of the Turnbull government’s significant reforms,” the statement concluded.
The announcement comes after reports that Mr Crennan would be appointed to the role earlier this year.
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Jerome Doraisamy is the managing editor of Lawyers Weekly and HR Leader. He is also the author of The Wellness Doctrines book series, an admitted solicitor in New South Wales, and a board director of the Minds Count Foundation.
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Jerome Doraisamy
