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Following expressions of interest from the financial services and consumer credit industry, 18 members of the industry have been selected for the FSCP.
The members include the managing director of mortgage broking firm Resolve Finance, Don Crellin.
The full panel includes:
- Annette Spencer
- Brad Fox
- Brian Salter
- Bruce Debenham
- Calvert Duffy
- Cherie Feher
- Christine McArthur
- Dacian Moses
- Don Crellin
- Fiona Rowland
- Gabrielle Bouffler
- Gaye Simpson
- Gayle Cilfone
- Jennifer Diggle
- Johanna Turner
- Naomi Layton
- Peter Wade
- Stephen Cavanagh
ASIC Chairman Greg Medcraft said: "A peer review panel such as the FSCP will enhance the impact of ASIC's administrative decisions because it draws upon the broad range of knowledge and experience of professionals in the financial services and credit industry. Our administrative decisions will benefit from the input of professionals who have a thorough understanding of current industry practices and standards.
"Thank you to all who expressed interest in the panel. We were delighted with the response from people in the market who are eager to assist ASIC with this very important initiative and the depth of experience and professionalism they represent."
The FSCP is a pool of industry participants that ASIC will draw upon when forming individual sitting panels. Each sitting panel will comprise two members from the FSCP and an ASIC staff member. The sitting panel will hold administrative hearings and decide whether to make banning orders against individuals for misconduct in providing financial services to retail clients or engaging in credit activities.
To support the FSCP, ASIC will release regulatory guidance which provides an overview of the FSCP and sets out the policies and procedures relevant to the operation of the panel.
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