The Australian Securities and Investments Commission (ASIC ) has seen a new senior appointment to its Markets Disciplinary Panel (MDP), adding Simon Gray as its newest chairman. He will step into the two-year role with immediate effect today, according to an ASIC statement.
ASIC’s Markets Disciplinary Panel (MDP) acts an independent peer-review forum for disciplinary and regulatory action that helps police market participants and market operators. More specifically, the group has a mandate to curb alleged breaches of ASIC’s market integrity rules.
Succession Plan
In his new role as the Chairman of the MDP, Mr. Gray will succeed Lisa Gay, who has been the group’s acting chair for the past six years. Mr. Gray has also been a longtime member of the ASIC Market Supervision Advisory Panel and of the ASX Appeal Tribunal – he steps into the position boasting nearly fifteen years of legal and Compliance experience in such areas as corporate finance.
In conjunction with the appointment of Mr. Gray, the MDP has also added Cilla Boreham as the group’s Deputy Chairman, following a successful stint as a panel member – like with Mr. Gray, the appointment will be for a duration of two years.
According to ASIC Chairman Greg Medcraft and ASIC Commissioner Cathie Armour in a recent statement on the leadership shakeup: "The Panel's track record demonstrates the value of a peer-review model in maintaining market integrity standards. Lisa's vision of how an effective peer review system could operate, combined with her dedication and professionalism, have been key to the Panel's success."
"Simon Gray is a seasoned markets practitioner and knows well the workings of the Panel, and we look forward to his leadership and drive to uphold the high standards of market integrity as Lisa has done,” they added.
