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Hewitson leaves FMA

New appointments at the Financial Markets Authority mean the role of Director, Financial Adviser Regulation has been disestablished.

Tuesday, July 26th 2011, 8:45AM 2 Comments

The FMA has changed its management structure and made a number of appointments which means the role Hewitson held has been disestablished.

Sue Brown has been appointed as head of primary regulatory operations to develop and lead the FMA strategy and activities relating to the primary and retail financial markets, including financial advisers.

Elaine Campbell has been named as the head of compliance monitoring, a new role at the FMA that will see her develop and lead the commercial and infrastructure monitoring function, including monitoring of qualifying financial entities (QFEs), brokers, financial service providers, superannuation schemes and KiwiSaver providers.

Hewitson finishes at the FMA on August 5.

Responsibility for financial advisers will come under Primary Regulatory Operations, headed by Sue Brown. Responsibility for QFEs falls to Elaine Campbell, Head of Compliance Monitoring.


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Comments from our readers

On 27 July 2011 at 8:37 am Amused said:
In the Banking/Finance industry when a person has his/her role ‘disestablished’ this is the politically correct way of saying they have become surplus to requirements and deemed to no longer add value to that organisation.
On 27 July 2011 at 11:06 am Dave said:
The role is disestablished, not the individual. I personally feel that Mel has done a great job in the FMA, bringing a commercial reality into a Governmental department is never easy. Good luck to you, Mel.
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