09 August 2011

FMA announces appointment and reappointments to Code Committee

Media Release
9 August 2011

The Board of the Financial Markets Authority has appointed Dimity Kingsford-Smith, a Professor of Law at the University of New South Wales, to the Code Committee for Authorised Financial Advisers for a term of three years.

FMA CEO Sean Hughes said Professor Kingsford-Smith's experience and expertise would be invaluable to the committee.

"I am very pleased Professor Kingsford-Smith has agreed to join the committee," Mr Hughes said.

"Her membership will help foster closer trans-Tasman relations and will provide valuable insight and understanding of the financial adviser regime across the Tasman and of the best practice developments in the Australian regulatory environment."

Professor Kingsford Smith teaches in the areas of corporations law, the regulation of securities and financial products, corporate governance, and the regulation of online investing.

She is Chair of the Conduct Review Committee, a professional disciplinary panel in the Australian financial services industry, and a member of the Australian Financial Advice Advisory Panel. She has advised the Australian Securities and Investments Commission and consulted to the Canadian Investment Dealers Association.

Mr Hughes also announced the reappointments to the committee of the Chairman, Ross Butler, and members Gary Young and David Ireland.

Mr Butler's reappointment is for three years, Mr Young's is for one year, and Mr Ireland's is for two years.

"I am grateful to Ross, Gary and David for agreeing to continue their commitment of time and skills to the work of this important committee," Mr Hughes said.


About the Committee

The Code Committee for Authorised Financial Advisers maintains a Code of Professional Conduct for Authorised Financial Advisers. It currently has eight members, including Pip Dunphy, Shane Edmond, David Russell and Michael Staal.

About the Code

The Code of Professional Conduct for Authorised Financial Advisers lays down minimum standards of competence, knowledge and skill, ethical behaviour and client care, along with minimum requirements for continuing education and training.

The Code was approved by Hon Simon Power, Minister of Commerce, on 21 September 2010 and came into force on 1 December 2010.