Former ASIC Commissioner Sean Hughes appointed Chair of the Banking Code Compliance Committee
The Australian Financial Complaints Authority (AFCA) and the Australian Banking Association (ABA) have jointly appointed former ASIC Commissioner Sean Hughes as the next Chair of the Banking Code Compliance Committee (BCCC).
Mr Sean Hughes is currently General Counsel for Vanguard Investments Australia and brings deep expertise in financial services regulation, law, corporate governance and risk oversight.
Mr Hughes served as a Commissioner at ASIC from 2018 to 2023, where he played a key role in implementing the recommendations of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
During his time at ASIC, he also led regulatory oversight of a number of sectors, including banking, credit and payment systems, and ASIC’s response to COVID-related hardship measures for bank customers.
Prior to ASIC, Mr Hughes held senior leadership roles including Group General Counsel at Tabcorp, Chief Risk and Legal Officer at UniSuper, and Chief Executive Officer of New Zealand’s Financial Markets Authority.
As Chair, Mr Hughes will oversee the Committee’s monitoring of Code compliance, commencing a three-year term in early 2026, taking over from outgoing Chair Mr Ian Govey AM.
“Sean brings extensive experience to this role and will be a huge asset to the committee as it continues its work promoting compliance with the code, and by doing so, creating fairer outcomes for consumers,” said AFCA Chief Ombudsman and Chief Executive Officer David Locke.
“I would like to thank outgoing Chair Ian Govey AM for his service and guidance over the past six years. Ian has made a significant contribution strengthening the committee’s oversight of the code and improving outcomes for consumers,” said Mr Locke.
