ASIC has announced it has appointed three panel members to conduct its Inquiry into Australian Securities Exchange (ASX) group.

This follows ASIC’s recent announcement of an Inquiry into ASX, focusing on the frameworks and practices in relation to governance, capability and risk management within the ASX group (25-103MR).

ASIC has appointed Rob Whitfield as Chair of the panel and Christine Holman and Guy Debelle as panel members.

ASIC Chair Joe Longo said, ‘Rob, Christine and Guy bring a wealth of experience in their roles as members of ASX top 20 boards and government investment funds, as well as deep experience across global markets, banking, regulatory, risk and technology.

‘Their depth of experience and skills will be invaluable as we undergo this Inquiry.’

The Inquiry panel will be asked to make recommendations to address any identified shortcomings or deficiencies in relation to governance, capability and risk management within ASX group.

The Inquiry panel will provide a report to ASIC by 31 March 2026 which will inform the next steps ASIC may take. ASIC will make this report public.

Rob Whitfield

Rob is an independent non-executive director of Commonwealth Bank, a non-executive director of Transurban Limited and a member of the Council of the Australian National University.

During Rob’s 30-year career with Westpac Banking Corporation, he held roles as Chief Executive Officer of the Institutional Bank, Chief Risk Officer, Group Treasurer and Chair of the Asia Advisory Board. After leaving Westpac, he held roles as Chair and Director of New South Wales Treasury Corporation, and Secretary of NSW Treasury and Industrial Relations.

In 2020, Rob was awarded the Order of Australia (AM) for his significant service to the banking and finance sector and public administration.

Rob holds a Bachelor of Commerce from the University of NSW, a Grad Dip in Banking, and a Grad Dip in Finance from UTS and has completed the Advanced Management Program at Harvard Business School. Rob is also a senior fellow of the Financial Services Institute of Australasia and a fellow of the Australian Institute of Company Directors.

Christine Holman

Christine is a non-executive director of two ASX listed boards, AGL Ltd, and Collins Foods Ltd, and one private company, Indara Pty Ltd which is a joint venture between Australian Super and Singtel.

Christine’s 35-year executive and board career included leading teams across the media, property, industrial, infrastructure, private investment, and technology sectors. She was formerly Chief Financial Officer and Commercial Director at Telstra Broadcast Services and advised management and the boards of investee companies at Capital Investment Group.

Christine also sits on the boards of Football Australia, The State Library of NSW Foundation, and The McGrath Foundation and a member of the Corporate Governance Committee at the Australian Institute of Company Directors (AICD).

Christine has an MBA and Post-Graduate Diploma in Management from Macquarie University and is a Graduate of the Australian Institute of Company Directors (AICD).

Guy Debelle

Guy Debelle is chair of FundsSA and a board member of the Clean Energy Finance Corporation, e61 and Tivan. He is also an adviser to the Investment Committee of Australian Retirement Trust, chair of the advisory board of Famille Capital, and an honorary professor of economics at Adelaide University.

Guy was the Deputy Governor of the Reserve Bank of Australia for six years having worked at the RBA for 25 years, including 10 years as Assistant Governor Financial Markets. After leaving the RBA, Guy worked at Fortescue Future Industries as CFO.

Background

On 16 June 2025, ASIC announced it would establish an Inquiry, following ongoing concerns that it shares with the Reserve Bank of Australia over ASX’s ability to maintain stable, secure and resilient critical market infrastructure (25-103MR).

The Commission and Inquiry panel will be supported by an ASIC Secretariat led by ASIC Senior Executive Jane Eccleston. The Secretariat is expected to include secondees from the Reserve Bank of Australia, the Australian Prudential Regulation Authority as well as the Australian Competition and Consumer Commission.

Full details can be found in the Inquiry’s Terms of Reference.