The Council of Financial Regulators (CFR) comprises two representatives – the agency head and another senior representative – from each of the four member agencies. The Chair is the Governor of the Reserve Bank of Australia (RBA) and the RBA provides the CFR Secretariat. Other representatives of CFR agencies attend meetings as appropriate.

The current member representatives of the CFR are:

Photograph of Philip Lowe
Philip Lowe
Reserve Bank of Australia
Biographical Summary
Photograph of Michele Bullock
Michele Bullock
Assistant Governor (Financial System)
Reserve Bank of Australia
Biographical Summary
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Wayne Byres
Australian Prudential Regulation Authority
Biographical Summary
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John Lonsdale
Deputy Chair
Australian Prudential Regulation Authority
Biographical Summary
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James Shipton
Australian Securities and Investments Commission

James Shipton BA (Melbourne), LLB (Hons) (Monash).

James Shipton commenced as ASIC Chair on 1 February 2018.

James has more than 20 years experience in regulation, financial markets, the law and academia – internationally and in Australia.

Most recently, he was the Executive Director of Harvard Law School's Program on International Financial Systems. Prior to that, James was an Executive Director and Commission member of the Securities and Futures Commission (SFC) of Hong Kong, where he led the Intermediaries (Supervision & Licensing) Division.

Before the SFC, James spent almost a decade at Goldman Sachs in Hong Kong as a Managing Director and Asia Pacific Head of Government and Regulatory Affairs and as a Managing Director in the Prime Brokerage business. Prior to that, he ran the hedge fund consultancy business of Eurekahedge, co-founded ComplianceAsia (Asia's first pan-regional independent regulatory consulting firm) in Singapore and worked in equity capital markets at Dresdner Kleinwort Wasserstein’s (now Commerzbank) in Hong Kong and London.

James began his career as a funds and securities lawyer at law firms Linklaters and Blake Dawson Waldron in Melbourne, Hong Kong and Bangkok.

James has previously served as Deputy Chair of the Alternative Investment Management Association's Hong Kong & China Chapter, Vice Chair of the Asian Securities Industry and Financial Markets Association and a Board Member of the Hong Kong Treasury Markets Association. He has also served on the Professional Advisory Board for the Asian Institute of International Financial Law, the Hong Kong Advisory Group for the Fred Hollows Foundation and the business advisory councils to the United Nations Economics and Social Commission for Asia Pacific (UNESCAP) and the Hong Kong Securities and Investment Institute.

Photograph of Steven Kennedy
Steven Kennedy PSM
Secretary to the Treasury

Dr Kennedy was appointed Secretary to the Treasury with effect from 2 September 2019.

Prior to this appointment, Dr Kennedy was Secretary of the Department of Infrastructure, Transport, Cities and Regional Development between September 2017 and August 2019.

During his nearly 30 years in the public service, Dr Kennedy has held other senior positions including Deputy Secretary at the Department of the Prime Minister and Cabinet; Deputy Secretary at the Department of Industry, Innovation and Science; Deputy Secretary at the Department of the Environment; Deputy Secretary at the Department of Climate Change and Energy Efficiency, and the Head of Secretariat of the Garnaut Climate Change Review – Update 2011.

Dr Kennedy began his career in the public service in 1992 as a cadet at the Australian Bureau of Statistics. Prior to joining the public service, he trained and worked as a nurse.

Dr Kennedy has served on a number of boards and he is currently a member of the Reserve Bank Board, Council of Financial Regulators, Trans-Tasman Council on Banking Supervision, Board of Taxation, New Zealand Treasury Board, the Sir Roland Wilson Foundation and the Centre for Market Design Advisory Board.

Steven is also the Institute of Public Administration Australia (IPAA) ACT President.

Dr Kennedy was awarded a Public Service Medal in 2016 for outstanding public service in the area of climate change policy.

Dr Kennedy holds a PhD and a Masters in Economics from the Australian National University, and a Bachelor of Economics (First Class Honours) from the University of Sydney.