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Afterpay tried to hire top ASIC exec Peter Kell

Afterpay approached the former second in command at the corporate watchdog, Peter Kell, about a role inside the $6 billion-valued buy now, pay later platform, which is facing multiple regulatory challenges.

The revelation will add to concerns about the revolving door between regulators and big business, and highlights Afterpay’s determination to overcome one of the biggest threats to its ongoing growth and high flying share price.

Afterpay co-founders Anthony Eisen and Nick Molnar are looking at ASIC executives to address the regulatory challenges it faces.

Afterpay co-founders Anthony Eisen and Nick Molnar are looking at ASIC executives to address the regulatory challenges it faces. Credit:James Brickwood

Afterpay approached Mr Kell, the former deputy chairman of ASIC, around the time of his departure from the regulator in December last year, but was rebuffed.  Mr Kell declined to comment when contacted by The Sydney Morning Herald and The Age, but he has not taken on any roles since leaving ASIC late last year.

At that time of the approach, the ASX market darling had just emerged unscathed from an ASIC report into the buy now, pay later sector which confirmed the regulator was not recommending that the industry be brought under the credit act.

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