The corporate regulator has shortlisted Commonwealth Bank board member Rob Whitfield and AGL Energy non-executive director Christine Holman to serve as expert panel members overseeing a sweeping inquiry into the ASX’s governance and operating failures.

The Australian Securities and Investments Commission will whittle down its shortlist of prospective panel members, which includes other prominent business people and former regulators, in the coming weeks, said multiple sources not authorised to speak publicly on the appointments.