The Financial Planning Standards Council (FPSC) is changing the way it is structured and has created an independent panel which will oversee all financial planning standards.
The FPSC says it is making the changes to bring about "a better alignment of responsibility and accountability". The new standards panel will be made up of expert financial planners as well as members of the public who have a keen interest in the subject.
Financial planning standards were previously overseen by the FPSC’s enforcement policy and certification committees, but the new panel will now be responsible for developing and enforcing the FPSCs Standards of Professional Responsibility and the associated Guidance, as well as the CFP Professional Competency Profile, Body of Knowledge, and required educational learning outcomes for candidates on the path to certification.
“Enhancement of FPSC’s governance related to the oversight of professional standards supports the continued rigour, efficiency and relevance of FPSC’s important work,” says FPSC board chair Dawn Hawley. “It ensures our processes help ensure the highest standards in the financial planning profession, for the benefit of the public.”
The names of the new panel members are listed on the FPSC web site.
