Vamos departs ASIC post-FSR
TheAustralian Securities and Investments Commission(ASIC) director of FSR licensing Pauline Vamos has announced her departure from the regulator following the implementation of Financial Services Reform (FSR) in favour of starting up her own consultancy business.
Vamos says the decision to leave was not easy, but something she had been contemplating for some time.
“I had to ask myself what I was going to do after FSR implementation. I go with no hard feelings at all as I’ve been with the regulator for six years and they’ve given me some wonderful opportunities.
“It’s now or never - it’s a very hard place to leave as it’s a good place to work and the people are so exciting,” Vamos says.
Her start-up consultancy practice — Vamos Consulting — has been granted its first project in the form of a three month contract with Hong Kong’s pension fund regulator.
“They’ve introduced some legislation and I’m helping them to put together some compliance standards,” she says.
Beyond this contract Vamos says she will look to offer strategic consulting services across the industry, including her soon-to-be former employer, and will predominantly look to offer these services in the areas of compliance and corporate governance.
Recommended for you
An adviser has received a written reprimand from the Financial Services and Credit Panel after failing to meet his CPD requirements, the panel’s first action since June.
AMP has reported a 61 per cent rise in inflows to its platform, with net cash flow passing $1 billion for the quarter, but superannuation fell back into outflows.
Those large AFSLs are among the groups experiencing the most adviser growth, indicating they are ready to expand following a period of transition and stabilisation after the Hayne royal commission.
The industry can expect to see more partnerships in the retirement income space in the future, enabling firms to progress their innovation, according to a panel.
