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ASIC commissioner exits before end of term

By Philip King
18 January 2023 — 1 minute read

Sean Hughes accepts a role in the private sector and departs next month.

Australian Securities and Investments Commission (ASIC) commissioner Sean Hughes will leave the regulator in February, 11 months before his terms ends, after accepting a role as general counsel at asset manager Vanguard.

Mr Hughes had been a lead voice on the issues of whistleblowers and audit quality. He has previously held several positions at ASIC, including senior executive leader for corporate governance and corporations from 2008–10 and director, financial services regulation for four years to 2003.

He was due to end his five-year term on 1 December 2023. The appointment of an ASIC commissioner is determined by the Treasurer.

ASIC chair Joe Longo said: “We are grateful for the contribution Sean has made to ASIC in his role as commissioner and wish him well in the next stage of his career.”

ASIC said its Commission would continue to work via a whole-of-ASIC approach, with current members chair Longo, deputy chairs Sarah Court and Karen Chester, and commissioner Danielle Press, working with the chief operating officer and executive team.  

In October, a parliamentary joint committee began an inquiry into ASIC’s capacity and capability to respond to reports of alleged misconduct. It will call for submissions, hold public hearings and is due to report by June 2024.



ASIC commissioner exits before end of term
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Philip King

Philip King

Philip King is editor of Accountants Daily and SMSF Adviser, the leading sources of news, insight, and educational content for professionals in the accounting and SMSF sectors.
Philip joined the titles in March 2022 and brings extensive experience from a variety of roles at The Australian national broadsheet daily, most recently as motoring editor. His background also takes in spells on diverse consumer and trade magazines.
You can email Philip on: [email protected].au 

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