FSC appoints disciplinary committee
The code has been in effect since January and the committee's role will be to determine whether a member has breached its standard and identify sanctions appropriate to the potential damage to consumers or the industry.
Chaired by tax barrister Geoff Clews, the committee is made up of independent experts from New Zealand and overseas with expertise in law, financial services, governance and conduct.
Rob Flannagan, chair of the Financial Services Council, said the calibre of the committee reflected the seriousness with which the industry was taking its responsibilities under the code.
“The disciplinary committee is integral to ensuring the code of conduct lives up to its promise and delivers for New Zealanders. I’m delighted that we have managed to secure such a world-class collection of experts to oversee this process.”
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