Three New Commissioners Welcomed to ASIC

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ASIC: Australian Securities & Investments Commission

Original media release from ASIC 25/08/2023.

ASIC Chair Joe Longo has welcomed the Treasurer’s appointment of three new Commissioners to ASIC.

The Treasurer has announced the appointment of Ms Katherine O’Rourke, currently a First Assistant Secretary at Treasury, as Commissioner from 11 September 2023. Mr Alan Kirkland, who is currently the CEO of leading consumer group CHOICE, and Ms Simone Constant, who is currently the Chief Risk Officer, Institutional Bank and Markets at the Commonwealth Bank of Australia, will commence their terms on 20 November 2023.

Mr Longo said the new Commissioners bring exceptional experience and skills to the Commission.

‘The new Commissioners strengthen and reinforce the expertise of the Commission at a time of significant and complex change in our regulatory environment.’

‘ASIC’s role is fundamental to protecting Australian consumers and investors while our economy navigates difficult challenges including climate change, an ageing population and the rapid evolution of data technology.’

‘Kate, Simone and Alan each have considerable experience in areas relevant to ASIC’s strategic priorities. They join the Commission as we embark on a program of work to become a leading data-informed regulator and strengthen our commitment to strong and decisive enforcement of the law.’

‘The new Commissioners will be powerful advocates for Australian consumers and investors, and for maintaining the integrity of Australia’s financial system. I look forward to working with them.’

Ms O’Rourke returns to ASIC where she worked from 2003 to 2017, leading work on fundraising, mergers and acquisitions, corporate governance and regulatory policy. At Treasury she has held leadership positions with responsibility for data and digital economic reforms, small business policy and regulatory frameworks governing market conduct.

Mr Kirkland is a leading consumer advocate with a long history in financial markets and influencing positive reforms for some of the most vulnerable members of the community. He is well known to ASIC through his membership of our ASIC Consultative Panel, and was a member of the panel for the Ramsay Review, which recommended the establishment of the Australian Financial Complaints Authority and Compensation Scheme of Last Resort.

Ms Constant has extensive experience in financial services and risk management, and has previously worked as a lawyer. She is a former Deputy Secretary of NSW Treasury and led the NSW Department of Education’s COVID Taskforce.

Mr Longo also acknowledged outgoing Commissioner Danielle Press, who will leave ASIC when her term expires on 16 September 2023.

“On behalf of everyone at ASIC I offer our deep gratitude to Danielle for her outstanding contribution to the Commission over the past five years, particularly her pivotal role in establishing ASIC as the conduct regulator for the superannuation sector. Danielle’s generous, warm and approachable leadership style has helped build open and effective relationships across ASIC, among our peers and across industry. I wish her well in her future endeavours.”