What we do
For consumers
History
ASIC began operating in 1991 as the Australian Securities Commission (ASC) replacing the National Companies and Securities Commission (NCSC) and the Corporate Affairs offices of the states and territories.
In 1998 we took on responsibility for consumer protection in superannuation, insurance and deposit taking and the organisation was renamed the Australian Securities and Investments Commission.
ASIC’s role, functions and powers were set out in the Australian Securities and Investments Commission Act 2001 (ASIC Act).
In 2010 ASIC took on additional responsibilities for regulating trustee companies, consumer credit and finance broking and for supervising trading on Australian licensed equity, derivatives and futures markets.
From July 2019, staff are employed under the ASIC Act, ensuring we attract and retain people with capabilities to deliver improved market outcomes for all Australians.
ASIC previous chairs
James Shipton BA (Melbourne); LLB (Hons) (Monash), 2018-2021
James Shipton commenced as ASIC Chair on 1 February 2018. James had more than 20 years experience in regulation, financial markets, the law and academia – internationally and in Australia.
Before joining ASIC, he was the Executive Director of Harvard Law School’s Program on International Financial Systems. Prior to that, James was an Executive Director and Commission member of the Securities and Futures Commission (SFC) of Hong Kong, where he led the Intermediaries (Supervision & Licensing) Division.
Before the SFC, James spent almost a decade at Goldman Sachs in Hong Kong in senior roles as a Managing Director in both the securities division and the Asia Pacific executive office. Prior to that, he ran the hedge fund consultancy business of Eurekahedge, co-founded ComplianceAsia (Asia’s first pan-regional independent regulatory consulting firm) in Singapore and worked in equity capital markets at Dresdner Kleinwort Wasserstein (now Commerzbank) in Hong Kong and London.
James began his career as a funds and securities lawyer at law firms Linklaters and Blake Dawson Waldron in Melbourne, Hong Kong and Bangkok.
James has previously served as Deputy Chair of the Alternative Investment Management Association’s Hong Kong & China Chapter, Vice Chair of the Asian Securities Industry and Financial Markets Association and a Board Member of the Hong Kong Treasury Markets Association. He has also served on the Professional Advisory Board for the Asian Institute of International Financial Law, the Hong Kong Advisory Group for the Fred Hollows Foundation and the business advisory councils to the United Nations Economics and Social Commission for Asia Pacific (UNESCAP) and the Hong Kong Securities and Investment Institute.
Appointment as Chair, Minister’s press release, 17 October 2017.
Greg Medcraft BCom (Melb), 2011-2017
Greg Medcraft commenced as ASIC Chaiman on 13 May 2011 for a five-year term. On 6 May 2016 his term was extended to 12 November 2017.
Prior to joining ASIC as Commissioner in 2009, Greg Medcraft had a distinguished career in investment banking. He spent nearly 30 years at Societe Generale in Australia, Asia, Europe and the Americas.
Most recently he was the Managing Director and Global Head of Securitisation, based in New York.
Greg Medcraft was also the CEO and Executive Director at the Australian Securitisation Forum and co-founded the American Securitisation Forum.
Greg was Chair of the IOSCO Board from March 2013 to May 2016. Greg is a director of the Salzburg Global Seminar – the first Australian to be appointed to the board.
He is also a member of the IMF High-Level Advisory Group of the Interdepartmental Working Group on Finance and Technology.
Greg was recently appointed to the Board of Directors United States Studies Centre at the University of Sydney.
Jeffrey Lucy, AM, 2003-2007
Mr Lucy commenced with ASIC on 24 February 2003. He became Acting ASIC Chairman on 22 December 2003 and was appointed Chairman on 13 May 2004. On 13 May 2007, Mr Lucy commenced as ASIC Commissioner.
Mr Lucy is a Chartered Accountant and a Fellow of the Institute of Chartered Accountants in Australia, the National Institute of Accountants, and the Australian Institute of Company Directors. He was made a Member of the Order of Australia for his contribution to the accounting profession, particularly through the ICAA, and to the business sector as an adviser on corporate and taxation reform.
Mr Lucy was previously the Chairman of the Financial Reporting Council and he is a former member of the Business Regulation Advisory Group, a former National President of the Institute of Chartered Accountants in Australia, and a former Managing Partner of PricewaterhouseCoopers, Adelaide.
Appointment as Commissioner, Treasurer’s press release, 27 April 2007
Appointment as inaugural Chairman of IFIAR, ASIC media release 06-327, 18 September 2006
Appointment as Chairman, Treasurer’s press release, 13 May 2004
Appointment as Acting Chairman, Treasurer’s press release, 18 December 2003
Appointment as Deputy Chairman, Treasurer’s press release, 21 February 2003 and ASIC media release 03-066
David Knott, LLB, 2000-2003
Mr Knott was appointed as Chairman of ASIC on 18 November 2000 and resided in Melbourne. He first joined ASIC as its Deputy Chairman on 5 July 1999.
Mr Knott’s career spans more than 30 years of experience in both the private and public sectors. After graduating in law in 1970, he spent 13 years in private legal practice, specialising in company and commercial law before assuming senior roles in investment banking for a further ten years and, since 1992, public administration.
Positions held include Partner of Arthur Robinson and Co (now Allens Arthur Robinson); Senior Executive Director of Capel Court Investment Bank; Chief Executive Officer of the Australian Financial Institutions Commission (regulator of credit unions and building societies); Chief Executive Officer of Commonwealth Funds Management (pension funds manager for Australian Government); and Chief Operating Officer of the Australian Prudential Regulatory Authority (prudential regulation of deposit takers, insurance and superannuation).
During his time as ASIC Chairman, in addition to his role as ASIC Chairman, Mr Knott held the following positions: Member of the Council of Financial Regulators; Chairman of the Technical Committee of IOSCO (the International Organization of Securities Commissions); Ex-officio member of CAMAC (the Companies and Markets Advisory Committee); Member of the Steering Committee established by the Australian Government to implement the new Australian Crime Commission; and Fellow of the Institute of Company Directors.
Treasurer’s press release no 105 of 9 November 2000
ASIC Chairman to retire at end of 2003, Media release 03-251, 12 August 2003
Treasurer’s press release 18 December 2003
Alan Cameron, 1993-2000
Mr Cameron was appointed as Chairman of ASIC in January 1993.
Tony Hartnell, 1991-1993
Mr Hartnell was appointed as Chairman of ASIC in 1991.
- More about ASIC