Peter Kell and Greg Tanzer are set to rejoin the corporate regulator as commissioners.
ASIC chair Greg Medcraft announced their re-appointment yesterday.
"I welcome both Mr Tanzer and Mr Kell back to ASIC. Each has considerable regulatory experience and will replenish ASIC's leadership at the commissioner level," Medcraft said.
Tanzer has been appointed for a four-year term beginning 23 January 2012.
Since leaving ASIC more than three years ago, he has been secretary general of the International Organization of Securities Commissions.
During his time at ASIC, Tanzer spent a number of years as executive director for consumer protection and international.
Kell has been appointed for a five-year term beginning on 7 November.
Prior to joining ASIC, he held the position of ACCC deputy chair and, before that, he was the chief executive of CHOICE.
Kell joined ASIC in 1998 and served as executive director of consumer protection and as ASIC's New South Wales Regional Commissioner until 2004.
Meanwhile, Commissioner Michael Dwyer has decided not to renew his three-year term, which finishes in December.
"I would also like to thank Michael Dwyer for his service and friendship over the last three years. His experience - especially in the insolvency, accounting and financial reporting areas - is significant and has been of tremendous benefit to ASIC, particularly through a period of parliamentary scrutiny and, more generally, during the challenges of the global financial crisis," Medcraft said.
Dwyer's term ends on 11 December.
