FPA announces new Chair for Conduct Review Commission
The Financial Planning Association of Australia (FPA) has announced the appointment of Graham McDonald as Chair of its Conduct Review Commission (CRC), and Dale Boucher as Deputy CRC Chair.
The CRC is an independently chaired tribunal that hears and determines disciplinary complaints, holding FPA members accountable to high standards of ethics and professionalism.
These appointments are made on the recommendation of an independent selection committee chaired by the Honorable Bernie Ripoll, former Federal Member for Oxley.
Mr. McDonald brings a wealth of experience from a long and successful career as a solicitor and barrister, and a deep understanding of dispute resolution gained as a former Presidential Member of the Australian Administrative Appeals Tribunal, where he oversaw a number of cases relating to financial planning. Mr. McDonald has also served previous roles as Banking Ombudsmen and Chair of the Superannuation Complaints Tribunal.
Mr. McDonald’s appointment includes the newly created role of Independent Code Administrator (ICA) for the FPA Professional Ongoing Fees Code, the FPA’s ASIC approved code. His term as Chair is for three years.
Mr. Boucher will commence as Deputy CRC Chair on 1 July 2017. His current term as Chief Executive Officer of the Legal Services Council and Commissioner for Uniform Legal Services Regulation will end in September 2017. He brings to the role a depth and breadth of experience that spans more than four decades and includes time as an Australian Government Solicitor, a Partner with Minter Ellison in Canberra, Chairman of the Tax Practitioners Board, and Chair of the Mortgage and Finance Association of Australia Tribunal.
These appointments will be integral to the FPA’s application to become a code monitoring body following the passing of the Corporations Amendment (Professional Standards of Financial Advisers) Bill 2016 by Parliament on 7th February.
Code monitoring bodies will be responsible for ensuring the conduct of members meets the new Code of Ethics set by the Financial Adviser Standards and Ethics Authority (FASEA).
“The high calibre of the new appointments reflects the reputation the FPA has built in the financial planning profession. Both appointees put their names forward to independently uphold the high standing of members, and we’re delighted to have them on board,” said Chair of the FPA, Neil Kendall CFP®.
Commenting on outgoing Deputy and acting Chair Mark Vincent, Mr. Kendall said: “The FPA would like to acknowledge the important contribution made by Mark to the development of the CRC. Over the past two years Mark has lead the CRC through an important period of transition, improved processes and independence for our professional accountability systems.”