The Minister for Revenue and Financial Services, the Hon Kelly O’Dwyer MP, welcomes the appointment of Dr Deen Sanders OAM as CEO of the Financial Adviser Standards and Ethics Authority Limited (FASEA).
Announcing his appointment today, the Chair of FASEA, Catherine Walter AM, said the Board was delighted to welcome Dr Sanders in what will be a pivotal time for the financial advice sector in Australia.
“Dr Sanders is eminently qualified to lead FASEA and brings a deep understanding of existing educational and training standards of financial advisers. Critically, his practical understanding of the sector and its unique dynamics will help guide a renewed approach to improving standards, alongside a clear focus on mandatory ethical requirements to improve public trust and confidence,” Ms Walter said.
“FASEA will play an important role in giving life to the Government’s reforms to raise standards in the financial advice industry. These reforms will professionalise the industry and deliver improved outcomes for consumers,” Minister O’Dwyer said.
Dr Sanders will become the inaugural CEO for FASEA on 18 September 2017. As CEO, he will lead the establishment of mandatory educational and training requirements, developing and setting an industry exam and creating a Code of Ethics to which advisers will be required to adhere.
Dr Sanders is currently CEO (Assistant Commissioner) of the Professional Standards Authority of Australia and has more than 16 years’ experience working in financial professional standards and training including as National Director, National Finance Industry Training Advisory Body and Chief Professional Officer, Financial Planning Association of Australia.
“I am excited to lead FASEA, and am honoured to have been selected to help guide the organisation through the historic opportunity to improve public confidence and trust in the financial advice sector,” Dr Sanders said.
The appointment of Dr Sanders concludes a comprehensive executive candidate search, and the Government looks forward to seeing the work of FASEA in preparation for the commencement of professional standards from 1 January 2019.