Securities Commission Appointment

24 June, 2001 Media Statement
Securities Commission Appointment

Commerce Minister Paul Swain today announced the appointment of Jane Diplock of Hunters Hill, Australia, as Chairperson of the Securities Commission for a period of five years.

Jane Diplock is a qualified lawyer. She is highly experienced at running a securities market regulatory agency with an enforcement role having been responsible for running the largest operational area of the Australian Securities and Investment Commission as New South Wales Regional Commissioner and National Director of Infrastructure and Strategic Planning.

She has held various senior executive positions with Westpac Banking Corporation and was a managing director of the New South Wales (TAFE) Technical and Further Education Commission.

"Jane Diplock’s experience will be valuable given the changing nature of the Commission’s role," Paul Swain said.

"The government recently agreed to give the Commission a public civil enforcement role for insider trading. Law reform currently under consideration in the areas of continuous disclosure and market manipulation may also lead to additional enforcement functions for the Commission.

"Her experience in the Australian securities market will also be valuable in the context of the continuing integration of the Australian and New Zealand economies under CER.

"The term of the current Chairperson, Euan Abernethy, expires on 30 June. I would like to thank Mr Abernethy for his work over the years," Paul Swain said.

Michael Webb, a member of the Commission since September 1992, will be appointed interim chairperson until Jane Diplock takes up the position. Michael Webb has previously acted as alternate chair for the Commission.

ENDS

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