Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Hansard source

I have just found some additional notes. Treasury did make these matters public by way of response on 12 November 2011. I am advised that Treasury undertook a review of all possible candidates, including market soundings, and advised that Mr Medcraft was the preferred candidate for the position. Treasury advised that, since Mr Medcraft was highly qualified, it was preferable not to advertise the position, to minimise disruption at ASIC and to facilitate a seamless changeover. I am advised Treasury has already said on the record:

On the basis of Mr Medcraft's considerable experience in financial markets and as a Commissioner of ASIC with responsibility for financial services, Treasury recommended to the government Mr Medcraft's appointment as Chairman of ASIC. Treasury considered a range of potential candidates for the position and concluded that Mr Medcraft was the most qualified person. On the basis ...

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