ASIC forms markets expert advisory group

ASIC has formed a time-limited markets expert advisory group to provide the regulator with advice, market expertise and international perspectives.

It will bring together market leaders and experts to help identify and prioritise practical improvements to the resilience, efficiency, accessibility and competitiveness of Australia's capital markets. The group will comprise of 12 members appointed for their relevant expertise.

The group will complement, rather than replace, ASIC's existing consultative panels, direct industry engagement and other government and industry forums.

"Australia starts from a strong base, with rapidly growing debt markets, historically strong equity markets, a superannuation sector worth more than $4 trillion and a long and proud history of being a nation of investors, with half of Australians holding investments outside their superannuation or their family home," ASIC commissioner Simone Constant said.

"But global competition for capital is intensifying, investment opportunities and access are globalising and we cannot stand still."

The advisory group will help the corporate regulator and industry consider strategic choices and identify practical actions that support the public interest in Australia's markets. It will bring together participants from across the markets ecosystem to address shared challenges and opportunities.

ASIC said realising that opportunity means improving access for domestic and overseas investors, expanding capital-raising pathways, including for small and medium-sized enterprises, enhancing liquidity and growing the overall market, while maintaining strong foundations and trust.

"We are operating in a heightened strategic risk environment of market and credit risk uncertainty, growing cyber, AI and real economy risks and industrial-scale disruption and globalisation of traditional investment and capital markets operations and practices," Constant said.

"A renewed focus on resilience and transparency is vital. Our ambition should be to grow Australia's capital markets while maintaining the trust and confidence on which they depend.

"Our goal should not be to simply remain relevant in this change super-cycle, but to lay foundations for Australia to thrive and grow in the changed economic world that is forming."