O’Dwyer appoints professional standards board

professional standards financial planning

10 April 2017
| By Hope William-Smith |
image
image
expand image

Minister for Revenue and Financial Services, Kelly O’Dwyer, has appointed Reserve Bank of Australia (RBA) payments systems board director, Catherine Walter, as chair of the new Financial Adviser Standards and Ethics Authority (FASEA), effective for four years.

Walter, who has served on 15 boards since 1993, will be responsible for maintaining cohesion and uniting directors to work collaboratively toward the professionalisation of the sector.

O’Dwyer also announced the appointment of eight directors to the FASEA board with terms between two and three years.

Countplus chief executive, Matthew Rowe, Integra Financial Services founder and managing director, Deborah Kent, and UniSuper and Guild Group director, Stephen Somogyi had been appointed.

Also appointed to the board was Financial Ombudsman Service director and Australian Competition and Consumer Commission (ACCC) co-chair, Catriona Lowe, and Legal Services Board (Victoria) director, Carolyn Bond. Former chief executive of National Seniors Australia and Australian Gold Council, Michael O’Neill, had also been appointed.

The final two positions on the board would be filled by Ethics Centre executive director, Dr Simon Longstaff, and Griffith University finance professor Mark Brimble.

The primary responsibilities of the FASEA board would be to ensure the viability of the authority, approve education standards for financial advisers, and appointing a chief executive to hold to account on the strategic objectives for the authority.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...

1 hour ago

Interesting. Would be good to know the details of the StrategyOne deal....

4 days 6 hours ago

It’s astonishing to see the FAAA now pushing for more advisers by courting "career changers" and international recruits,...

3 weeks 2 days ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

2 weeks 4 days ago

A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments ...

3 days 4 hours ago

Pinnacle Investment Management has announced it will acquire strategic interests in two international fund managers for $142 million....

2 days 7 hours ago