AFA Appointment to Boost Professionalism Push

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The Association of Financial Advisers (AFA) has announced the appointment of a new senior staff member to prepare the association and its members for the various requirements of the professional standards legislation, set to begin from the start of 2019.

AFA General Counsel, Professionalism, Linda Vogel
AFA General Counsel, Professionalism, Linda Vogel

Former Senior Legal Counsel at Deloitte Touche Tohmastu, Linda Vogel has been appointed as AFA General Counsel, Professionalism and will work with AFA General Manager, Policy & Professionalism, Samantha Clarke to oversee the association’s move to become a code-monitoring body under the legislation.

As part of the new Professional Standards of Financial Advisers Act, professional associations can become ASIC approved monitoring bodies operating their own approved code schemes.

AFA Chief Executive, Philip Kewin said Vogel would also be involved in helping AFA members prepare for the education requirements to be set by the Financial Adviser Standards and Ethics Authority (FASEA).

Vogel has previously worked on code development and management in a previous role as Head of Professional Conduct at Chartered Accountants Australia and New Zealand for 10 years, and assisted in the drafting of Deloitte’s Principles of Business Conduct during her time with the firm.

FPA Announces New CRC Chair

In related news, the Financial Planning Association (FPA) has announced a new Chair and Deputy Chair of its Conduct Review Commission (CRC), as part of its preparations to become a code monitoring body.

The FPA appointed former Australian Administrative Appeals Tribunal member Graham McDonald as Chair and current Chief Executive Officer of the Legal Services Council and Commissioner for Uniform Legal Services Regulation Dale Boucher as Deputy Chair.

McDonald’s appointment also includes the newly created role of Independent Code Administrator for the FPA Professional Ongoing Fees Code, the FPA’s ASIC approved code. (LINK).

Both McDonald and Boucher have wide experience in dispute resolution with McDonald previous having served as Banking Ombudsmen and Chair of the Superannuation Complaints Tribunal, and Boucher have worked as an Australian Government Solicitor, Chair of the Tax Practitioners Board, and Chair of the Mortgage and Finance Association of Australia Tribunal.