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Barrister named new ASIC deputy chair
The federal government has named a Victorian-based Queen’s Counsel as the new deputy chairperson of the Australian Securities and Investments Commission.
Jerome Doraisamy
Daniel Crennan QC was appointed for a period of five years to the role, starting 16 July of this year.
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“Mr Crennan is a highly regarded Queen’s Counsel and his appointment follows the government’s commitment to appoint an additional ASIC commissioner with targeted enforcement experience,” said Minister for Revenue and Financial Services Kelly O’Dwyer MP in a statement.
“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.
