ASIC establishes Financial Advisers Consultative Committee
The Australian Securities and Investments Commission (ASIC) has announced the establishment of the Financial Advisers Consultative Committee, designed to improve industry engagement with its regulator.
The members of the committee are Craig Banning, Jennifer Brown, Chris Brycki, Steven Dobson, Mark Everingham, Tony Gillett, Adam Goldstein, Cathryn Gross, Suzanne Haddan and Kevin Smith.
Announcing the new body, ASIC deputy chairman, Peter Kell, said the regulator had extensive engagement with participants in the financial advice sector as well as financial advice industry bodies and consumer organisations.
“We saw benefit in extending our interaction with this sector through the establishment of a committee made up of practising advisers,” he said.
Kell said the Financial Advisers Consultative Committee (FACC) would supplement ASIC's existing engagement with the financial advice industry by:
- Contributing to our understanding of issues in the financial advice industry, including those directly impacting on practising advisers; and
- Improving ASIC's capacity to identify, assess and respond to emerging trends in the financial advice industry.
The ASIC announcement said the members of the FACC are practising financial advisers with a range of skills drawn from the following areas:
- Investment;
- Insurance;
- Superannuation;
- Self-managed superannuation funds; and
- Digital financial advice.
It said the FACC would provide ASIC with views on a broad range of issues relating to the financial advice industry.
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