Australia’s financial services authority, the Australian Securities and Investment Commission (ASIC), has established a Financial Advisers Consultative Committee (FACC) which to improve the existing industry engagement with the authority body, the regulator said.
The committee will supplement ASIC’s work by helping it to identify, assess and respond to emerging trends in the financial advice industry. It will also contribute to the regulator’s understanding of issues in the financial advice industry.
“ASIC has extensive engagement with participants in the financial advice sector as well as financial advice industry bodies and consumer organizations. We saw benefit in extending our interaction with this sector through the establishment of a committee made up of practicing advisers,” said ASIC deputy chairman Peter Kell.
The FACC’s members are financial advisers in the fields of investment, insurance, superannuation, self-managed superannuation funds, and digital financial advice. Its initial members are Craig Banning, Jennifer Brown, Chris Brycki, Steven Dobson, Mark Everingham, Tony Gillett, Adam Goldstien, Cathryn Gross, Suzanne Haddan and Kevin Smith.
The ASIC is an independent body that oversees the corporate, markets and financial services markets in Australia. It regulates local companies, financial markets, financial services organizations and professionals who deal and advise in investments, superannuation, insurance, deposit taking and credit.