- FPA Appoints Head of Education
- Commonwealth Bank Appoints Advice Board Director
- Macquarie Equities Completes ASIC Review Work
FPA Appoints Head of Education
The Financial Planning Association (FPA) has appointed Shaun Weston-Cole as Head of Education replacing Howard Cook who has moved into the role of FPA Head of Academic Relations.
Weston-Cole will oversee the CFP® Certification Program including new technologies to deliver the program while Cook will be responsible for the FPA’s existing relationships with academic institutions and ensuring that financial planning becomes a growing element of the Australian university curriculum.
Before joining the FPA, Weston-Cole worked for the College of Law overseeing learning content design and development and had also previously worked for publisher CCH Australia.
The appointment follows that of Andrew Cooper earlier this year who was appointed to lead engagement with students and get financial planning on the career agenda.
FPA, Chief Executive, Dante De Gori said the appointment of Weston-Cole will allow the association to develop a solution for financial planners who need to undertake further study to meet the forthcoming education requirements.
Commonwealth Bank Appoints Advice Board Director
The Commonwealth Bank Group has appointed HBF Health, Managing Director, Robert Bransby as a non-executive director to its Board of Advice Companies – Commonwealth Financial Planning Limited, BW Financial Advice Limited, Financial Wisdom Limited and Count Financial Limited.
Bransby, who commenced his term last month also serves as a director of Private Healthcare Australia, International Federation of Health Plans, Members Own Health Funds, Pioneer Credit, Goldfields Money, Synergy and the Insurance Commission of Western Australia.
Macquarie Equities Completes ASIC Review Work
The Australian Securities and Investments Commission (ASIC) has stated that Macquarie Equities Limited (MEL) has completed a 12-month program of works agreed to by MEL in February 2015.
At that time, ASIC concluded the two year Enforceable Undertaking (EU) with MEL but announced that some reforms required under the EU had not yet been tested by the independent expert, KPMG and required MEL to do further work to improve the quality of its advice files and consequently its ability to manage its advice risk.
ASIC stated that since that time KPMG had tested reforms implemented under the EU, the sustainability of the changes made during the EU; and the quality of the advice and advice files for two separate periods during the 12-month period.
ASIC also stated that KPMG had concluded its work and believes “that the policies, procedures and processes that KPMG have assessed in the course of this engagement have been effectively designed based on the nature, scale and complexity of MEL’s business and are operating effectively as designed”.
KPMG further stated that based on the testing performed, and at the point in time that their work was performed, information available to them indicated that given the nature, scale and complexity of MEL’s business “the changes made by MEL under the EU Implementation Plan, including any updates or revisions made since the conclusion of the EU will be sustainable”.
ASIC said it had noted an overall improvement in the quality of documentation since the EU’s conclusion and that the client remediation program, implemented during the EU, was continuing.
