MR No. 2014 – 040
14 November 2014
The Financial Markets Authority (FMA) today confirmed the appointment of three new members to the Code Committee for Authorised Financial Advisers (AFAs).
Professional financial advisers Martin Hawes and Stephen O’Connor join legal and financial services governance expert, Melanie Biss, as new members of the Code Committee. The existing members are Ross Butler, Shane Edmond, Professor Dimity Kingsford-Smith, David Russell and Gary Young, led by chair David Ireland.
Mr Butler, Mr Edmond and Professor Dimity Kingsford-Smith agreed to extend the duration of their terms.
Rob Everett, Chief Executive of the FMA, welcomed the new appointments, recognising the deep industry knowledge and individual skills they will bring to the Committee, further adding to the existing expertise and diversity of the members.
“Martin, Melanie and Stephen will be great assets to the team and ensure the Committee reflects the make-up of the sector as a whole, while bringing fresh ideas and experiences to the table. I’m confident the committee is now well-equipped to continue its work in building the capability and standards of the advisory profession.
“In particular, the new Committee will contribute in a meaningful way to the review of the Financial Advisers Act over the next 18 months,” said Mr Everett.
Both Martin Hawes and Stephen O’Connor are professional AFAs working within non-aligned practices in the South Island and have significant experience and profile within the advisory community. Melanie Biss is General Manager, Governance, Assurance and Business Support at ANZ Wealth with significant experience in governance and regulatory matters at one of New Zealand’s largest financial institutions.
With three new appointments and the extension of terms for three other members, the Committee increases to nine members. Each member has a varied length of term to ensure the future continuity and succession of the Committee.
Committee member Michael Staal stood down from the Code Committee at the end of his term.
David Ireland, chair of the Committee said, “I’d like to thank Mike Staal for his service to the Code Committee since 2009 and his commitment to raising standards in the financial advisers’ profession. I’m also delighted to have the new perspectives and depth of expertise that these new appointments bring to the Code Committee.”
A short biography for each member of the committee is available here.
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About the Committee
The Code Committee for Financial Advisers maintains a Code of Professional Conduct for Authorised Financial Advisers (AFAs). The Code establishes minimum standards of competence, knowledge and skills, ethical behaviour and client care, along with minimum requirements for continuing education, and training, for AFAs. More information about the Committee and its members can be found here.