Boss for regulators oversight

FORMER Macquarie Group CEO Nicholas Moore has been appointed inaugural chairman of the Financial Regulator Assessment Authority, a new watchdog with responsibility for oversight of the Australian Prudential Regulatory Authority and the Australian Securities and Investments Commission.

Mr Moore’s appointment was announced by federal Treasurer Josh Frydenberg on Friday, alongside the appointment to the FRAA board of Gilbert + Tobin partner Gina Cass-Gottlieb, and former Medibank CEO and NAB executive Craig Drummond.

“Nicholas Moore, appointed as chair, has had a distinguished career in the financial services sector,” Mr Frydenberg said. “He is a former chief executive officer of Macquarie Group, and currently holds multiple directorships in both the private and non-profit sectors.”

The government established the FRAA in response to the findings of the Hayne royal commission into the banks, which recommended that a regulator independent of government be established to assess the effectiveness of the corporate and banking regulators. Since retiring from Macquarie, Mr Moore (pictured) has acted as chairman for numerous groups including software start-up Willow, not-forprofit The Smith Family and think tank The Centre for Independent Studies.