FASEA appoints Stephen Glenfield as CEO
The Financial Adviser Standards and Ethics Authority (FASEA) has announced that Stephen Glenfield, an old hand in the financial services regulation space, is its new chief executive.
Glenfield would take up the mantle on 1 August, replacing Dr Mark Brimble, who had been acting as FASEA’s interim managing director since Deen Sanders’ departure from the CEO role earlier this year.
Glenfield said that he was looking forward to helping improve financial advisers’ professional standards, and consumer trust and confidence in the sector. He flagged that he planning to do so "collaboratively" with the industry, which had been somewhat rocked by FASEA's proposals thus far.
“I thank the FASEA Board for the opportunity to lead this pivotal organisation with a clear remit to act upon and implement the Federal Government’s objectives under the legislation,” he said.
“I anticipate working collaboratively with a diverse range of stakeholders as we prepare for the critical rollout phase of the Standards Authority’s work program.”
FASEA chair, Catherine Walter, said that Glenfield’s 30-plus years’ experience in financial services regulation and “measured leadership style” would strengthen the Authority’s capacity as it enters the rollout stage of its educational standards reforms.
“On behalf of the Board, the Standards Authority welcomes Mr Glenfield to the role of CEO. Stephen is ideally suited to lead the Authority, and to engage with consumer, government and industry stakeholders to ensure we achieve the required successful outcomes,” Walter said.
“Stephen brings in-depth knowledge of financial system regulation, strong communication skills and a strategic mindset. The Board expects that Stephen’s stewardship will augment and build upon our existing work in establishing a robust standards framework.”
Glenfield was most recently a managing director within the Australian Prudential Regulation Authority (APRA).
AUTHOR
Hannah Wootton
Recommended for you
While the last several months have seen increased market volatility, particularly in the US, advisers said there are multiple reasons why there has been an increase in defensive asset flows.
Scarcity Partners believes the dynamics playing out in the managed account and outsourced chief investment officer market are “here to stay” based on positive developments in financial advice.
Former executive chairman of failed stockbroker BBY, Glenn Rosewall, has been charged with aiding, abetting, counselling or procuring BBY’s dishonest conduct in relation to a financial service.
Fidelity International research has revealed Australian investors are significantly more optimistic about the market outlook and feeling more comfortable than their APAC peers, despite ongoing market volatility.
