The recently established Australian Financial Adviser Standards and Ethics Authority Limited (FASEA) has announced the appointment of its first CEO. Dr Deen Sanders, currently CEO (Assistant Commissioner) of the Professional Standards Authority of Australia, will take on the new role on 18 September.
FASEA was established with a mandate to govern the conduct of professionals in the financial advice sector, by setting mandatory educational and training requirements, developing and setting an industry exam, and creating a Code of Ethics that all advisers will be required to adhere to. The new requirements are to commence on 1 January 2019. As the incoming FASEA CEO, Dr Sanders will lead the establishment of these new standards.
FASEA chair Catherine Walter said: “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.”
Dr Sanders 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. He has also held roles at New England Credit Union, The Why Corporation and Financial Services Education Agency Australia.