Professor (School of Taxation & Business Law) and Director (Research), Pamela Hanrahan is one of two UNSW academics on an Expert Group that will support a taskforce assigned to look into the regulatory powers available to ASIC (Australian Securities and Investment Commission).
Professor Hanrahan said, “The Expert Group will assist the government in reviewing the current enforcement regime for corporations and financial services to make sure that the tools that ASIC has available to it (as a regulator) are fit for purpose and driving the right behaviours in those sectors.”
The six member Expert Group also comprises of UNSW Law Professor, Dimity Kingsford Smith. The members are drawn from peak industry bodies, consumer groups and academia recognised for their expertise in corporations, consumer, financial and credit law. The Expert Group will provide ongoing advice, feedback and recommendations to the Panel, which will consist of ASIC, the Attorney-General's Department (AGD) and the office of the Commonwealth Director of Public Prosecutions (CDPP).
The announcement comes as part of the Government’s commitment to better protect Australian consumers by strengthening the Australian Securities and Investments Commission (ASIC). Hon Kelly O'Dwyer MP said, “The taskforce will assess the suitability of the existing regulatory tools available to ASIC to perform its functions adequately, whether there is a need to strengthen ASIC's enforcement toolkit and if so, what that might look like."
For a full review of the terms of reference please visit the website of the Minister for Revenue and Financial Services.
Media contact: Ibrar Khan: 02 9385 9887 | firstname.lastname@example.org