NO.104

Appointment of Ms Belinda Gibson to The Australian Securities & Investments Commission (ASIC)

I am pleased to announce the appointment of Ms Belinda Gibson as a Commissioner of the Australian Securities & Investments Commission (ASIC).  Ms Gibson has been appointed for a three‑year term commencing on 5 November 2007.

Ms Gibson is currently a Partner at Mallesons Stephen Jaques where she specialises in transactional advice and in corporate and securities law.  Ms Gibson has managerial experience through her role as Partner in Charge of the Sydney office of Mallesons Stephen Jaques from 2000 to 2003.  She has extensive knowledge of corporate governance and accounting practices in Australia.

I am confident that Ms Gibson will be a valuable addition to the ASIC leadership team.

Ms Gibson will replace Mr Jeffrey Lucy AM, following Mr Lucy’s resignation from ASIC on 10 December 2007.  Mr Lucy has been appointed to the role of part‑time Chairman of the Financial Reporting Council. 

I would like to thank Mr Lucy for his significant contribution to refining Australia’s corporate regulatory framework during his four and a half years at ASIC.  Under Mr Lucy’s leadership, ASIC successfully prosecuted a number of breaches of law relating to the failure of the HIH Insurance Group for corporate misconduct and also implemented the ‘Better Regulation’ initiatives which improve ASIC’s engagement with business.  I look forward to continuing to work with Mr Lucy in his new role at the Financial Reporting Council. 

Finally, consistent with the requirements under the Corporations Agreement I consulted with the States and Territories in September 2007 regarding the appointment of a full‑time ASIC Commissioner.  Nominations will also be considered in the context of the possible appointment of an additional ASIC Commissioner in the near future.

MELBOURNE

5 October 2007

Contact: Renae Stoikos

03 9650 0244

CURRICULUM VITAE – MS BELINDA GIBSON