September 18, 2018 / 6:55 AM / a month ago

Australia's corporate regulator deputy chair resigns amid banking inquiry

Sept 18 (Reuters) - Australia’s corporate watchdog Deputy Chairman Peter Kell resigned after seven years with the regulator, Treasurer Josh Frydenberg said on Tuesday.

Kell will step down as deputy chair of the Australian Securities and Investment Commission (ASIC) in December, a role he has held since 2013.

ASIC’s enforcement powers are under scrutiny as an ongoing public inquiry into financial sector misconduct has exposed widespread wrongdoing.

Frydenberg criticised the regulator last week and promised to boost its powers to speed up compensation for mistreated customers.

The treasurer gave no reason for Kell’s departure. (Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Stephen Coates)

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