Brimble steps up as Sanders departs
Mark Brimble has been announced as acting managing director of the Financial Adviser Standards and Ethics Authority, as chief executive Deen Sanders leaves following months of heavy industry criticism.
FASEA Board chair, Catherine Walter, was brief in her thanks of Sanders for his contribution to the organisation.
“[Yesterday’s] announcement opens the way for Dr Sanders to step down from his current role as CEO to continue his long-standing career in professional standards, and we wish him well,” she said.
Sanders' departure was preceded by six months of flak from the industry regarding FASEA’s proposed education reforms. Criticism has been levelled at the entire Authority, including its board, although Sanders is the only one to depart.
Walter welcomed the experience and different skills that Brimble would bring to the role.
“On behalf of the Board, we are confident Dr Brimble’s acting managing directorship will help us to build on the platform designed by standards expert Dr Sanders and enable the Board to recruit a suitably qualified Chief Executive Officer for the next important phase.
“Dr Brimble brings a new skill set, and proven leadership capability in higher education and financial services. Engagement beyond the technical, principles-based platform is a critical focus for the Board, especially as we move into this next phase,” Walter said.
Brimble would commence his role as acting managing director for FASEA on 23 April and would remain in the position until 31 July, 2018. He would oversee the ‘feedback and build’ stage of the reforms.
The Board had already commenced its search for a new CEO.
AUTHOR
Hannah Wootton
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
