Code Committee members reappointed

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Commissioner for Financial Advisers David Mayhew has announced the reappointment of three members of the Code Committee.

Thursday, July 29th 2010, 11:21AM

The Committee was established in July 2009 to draft a Code of Professional Conduct for Authorised Financial Advisers (AFAs).

Ross Butler, David Ireland and Gary Young have each agreed to extend their one-year terms for another 12 months. All other Committee members were appointed for three years.

"I'm keen for continuity on the Committee up to full implementation of the new regime in July 2011," said Mayhew.

"It will also have an ongoing role, periodically consulting advisers and consumers on Code updates, and informing the Commission on evolving standards for financial adviser conduct and competency."

The legislation sets Committee membership at between seven and 11.

Currently it has eight members. However Committee member Sue Brown, having taken up the position of director Primary Markets with the Securities Commission, has indicated that she will step down once the Code has been approved.

Mayhew says that later this year, following approval of the Code and agreement on the Committee's work plan for the next period, he intends seeking additional Committee members to ensure an appropriate mix of skills.

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