ASIC has confirmed its readiness to assume responsibility for the supervision of real-time trading on Australia’s domestic licensed financial markets, with the establishment of its markets disciplinary panel and appointment of initial members.
The panel will function as a peer review body and has been set up to deal with breaches of the market integrity rules, taking effect on 1 August.
The panel will exercise ASIC’s power to issue infringement notices and accept enforceable undertakings relating to breaches of the rules.
Former Goldman Sachs JB Were general counsel Lisa Gay has been appointed as the panel’s chairman.
The other members of the panel include RBS Equities Australia associate director equity derivative sales Richard Brasher, who has more than 25 years of industry experience and specialises in equity derivative strategies.
Morgan Stanley Australia head of Australian equities Ian Chambers joins the panel with 29 years of experience in the industry, bringing a strong background in equities and derivatives.
Commonwealth Bank general manager financial markets operations Leigh Conder has 25 years of experience, with expertise in operations.
Bell Potter Securities head of futures Geoffrey Louw joins the panel with 17 years of experience and proficiency in the futures market.
Shaw Stockbroking director strategy and corporate finance Simon Gray brings 11 years of experience to the panel with a background in legal and compliance, supervision and corporate finance.
Patersons Securities executive chairman and chief executive Michael Manford joins the panel with 31 years of experience in the industry.
Patersons Securities client adviser Russell McKimm has 33 years of experience in the industry, managing broker-client relationships and providing financial advice.
All panel members are also members of the Australian Securities Exchange disciplinary tribunal.
ASIC said it would appoint further individuals to the panel as its work evolves.
