The Financial Services Council (FSC) has appointed a risk and compliance specialist to head the committee responsible for ensuring its members comply with its Life Insurance Code of Practice (LICP).
The FSC, in conjunction with the Financial Ombudsman Service (FOS), appointed Anne Brown to role of Chair of the Life Code Compliance Committee (LCCC), replacing Professor David Weisbrot, who stepped down in November.
Brown is currently a non-executive director of the Clean Energy Regulator and a member of ASIC’s Markets Disciplinary Panel, and is a former Chief Risk Officer for the Australian Securities Exchange (ASX) and General Manager of Risk and Compliance at the Sydney Futures Exchange.
Brown joins former President of Institute of Actuaries of Australia, David Goodsall, and Alexandra Kelly, Principal Solicitor of the Financial Rights Legal Centre on the LCCC, which is administered by FOS and comprises a representative from industry, a consumer representative and an independent chair.
FSC Chief Executive, Sally Loane thanked Weisbrot for his contribution to the committee during his time as Chair and welcomed Brown into the role, who said she looked forward to working with industry, regulatory and consumer stakeholders to uphold the standards in the LICP.
