Australia’s corporate watchdog has named a new leadership team for its Markets Disciplinary Panel, elevating long‑serving member Victoria Weekes to Chair and appointing Anthony Brittain as Deputy Chair, while adding three new members and farewelling five retirees.
The panel, a peer review body that rules on whether infringement notices should be issued for alleged breaches of the market integrity rules by market participants, operates on ASIC’s behalf and draws on senior industry expertise to deal with matters quickly and effectively.
Weekes succeeds Simon Gray, who retires from the MDP after 15 years, including nine as Chair. She brings more than three decades’ executive experience in financial services, has served on the MDP for 14 years including as Deputy Chair, and is an independent director at Bendigo and Adelaide Bank.
Brittain, Executive Director and Chief Operating and Financial Officer at Euroz Hartleys, steps into the Deputy Chair role.
ASIC has also appointed three new members: Annette Spencer, General Counsel at Barrenjoey Capital Partners; Sebastien Bonvalet‑Nicolle, former Head of Listed Derivatives and Clearing for Asia Pacific at Deutsche Bank; and Andrew Couper, Head of Markets Compliance at Regal Partners and former Head of Compliance at Credit Suisse.
Retiring members are Simon Gray, Anne Brown, Ian Chambers, Geoff Louw and Dan Ritchie.
ASIC Commissioner Simone Constant said, ‘We welcome the new MDP members and congratulate Ms Weekes and Mr Brittain on their appointments as Chair and Deputy Chair.
‘On behalf of ASIC, I extend our sincere thanks to the retiring members for their service and the significant contributions they have made.
‘We are especially grateful to Simon Gray for his dedicated leadership and governance as Chair of the MDP over the last nine years.
‘The MDP plays a vital role in ensuring fair and effective financial markets for all Australians.
‘The considerable depth and breadth of expertise of the panel will ensure the continued success in upholding market integrity.’
ASIC refers alleged contraventions of the market integrity rules to the MDP when an infringement notice is considered the most appropriate response, as an alternative to civil penalty proceedings. Sitting panels make independent decisions, with outcomes published on the MDP Outcomes Register.
An infringement notice can require a financial penalty of up to $4.95 million per alleged contravention, as well as remedial measures, sanctions, and the terms of an enforceable undertaking. The framework for the MDP’s work is set out in Regulatory Guide 216: Markets Disciplinary Panel. The panel was established in August 2010 when ASIC assumed responsibility for market supervision.
