ASIC establishes Financial Advisers Consultative Committee (FACC)

ASIC has announced the establishment of the Financial Advisers Consultative Committee, which is designed to improve industry engagement with the regulator.

“ASIC has 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,” said ASIC Deputy Chairman Peter Kell.

“The establishment of this committee is part of ASIC’s ongoing commitment to enhancing its engagement with its stakeholders,” he said.

The Financial Advisers Consultative Committee (FACC) supplements ASIC’s existing engagement arrangements 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,” according to ASIC.

FACC members are practicing financial advisers with skills in at least one of the following areas: investment, insurance, digital financial advice, superannuation and SMSFs.

“The FACC will provide ASIC with views on a broad range of issues relating to the financial advice industry,” said ASIC.

ASIC announced that the initial members of FACC are: Craig Banning, Jennifer Brown, Chris Brycki, Steven Dobson, Mark Everingham, Tony Gillett, Adam Goldstien, Cathryn Gross, Suzanne Haddan and Kevin Smith.

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