Committees & working groups
The FSC's policy development structure
The FSC's policy development structure is built on active industry participation, bringing together leaders and subject matter experts to shape effective and practical public policy for Australia's financial services sector.
Board Committees provide strategic oversight of FSC policy priorities, guiding direction, setting focus areas and informing the work of the FSC Secretariat and its working groups.
Working Groups bring members together to develop, refine and progress policy initiatives across key areas of the industry.
FSC Board Committees play a central role in shaping policy across the financial services industry. They provide strategic direction, set priorities, and guide the work of the FSC Secretariat and over 60 working groups leading key advocacy initiatives.
Committee membership is reviewed annually to ensure broad participation and give more members the opportunity to contribute their expertise. Each Committee meets up to six times per year.
Access to Committee materials and information on this website is restricted to Committee members.
Committee mandates & membership
Administration & Risk Board Committee Oversees the financial management and risk framework of the Financial Services Council.
Mandate
The Administration & Risk Board Committee is responsible for overseeing the financial management and risk framework of the Financial Services Council.
The Committee provides ongoing assurance across
- Financial administration and reporting
- Audit processes, controls and independence
- Legal and regulatory compliance
- Internal controls
- Risk oversight and management
Risk oversight
The Committee oversees the establishment and ongoing effectiveness of systems and processes for:
- Identifying, assessing, monitoring and managing risk
- Reporting and disclosing any material changes to the organisation's risk profile
Role and objectives
The Committee supports the Board in fulfilling its responsibilities by:
- Overseeing the effective management of financial and operational risks
- Ensuring the integrity and accuracy of financial reporting
- Monitoring compliance with applicable laws and regulations
- Providing Directors with timely, relevant and high-quality financial and non-financial information
- Supporting effective audit processes and maintaining strong communication between the Board and auditors
- Promoting high standards of business ethics and corporate governance
- Recommending risk-related policies and procedures to the Board
Members
- David Bryant FSC Chair, Chief Executive Officer, Marsh McLennan Pacific and President, Mercer Pacific
- Sean West FSC Deputy Chair, Executive Director, Head of Wealth Management, Macquarie Group Ltd
- Nick Hamilton FSC Deputy Chair, Chief Executive Officer and Managing Director, Challenger Ltd
FSC contact
For more information, please contact:
- Blake Briggs Chief Executive Officer 0423 576 999
Advice Board Committee Guides the Financial Services Council's strategy and policy development across financial advice and Financial Advisory Networks (FANs).
Mandate
The Advice Board Committee is responsible for guiding the Financial Services Council's strategy and policy development across financial advice and Financial Advisory Networks (FANs).
Regulatory engagement
The Committee also oversees the FSC's engagement with key regulators and government stakeholders responsible for financial advice and FANs, including:
- Australian Securities and Investments Commission
- Department of the Treasury
Role and objectives
The Committee works to:
- Strengthen the financial services regulatory framework to support the delivery of accessible, high-quality advice
- Demonstrate the value of financial advice and the role of FANs
- Promote strong governance and quality assurance practices across the advice sector
- Build and maintain consumer confidence in financial advice
Co-chairs
The Committee is co-chaired by members of the FSC Board:
- Neil Younger Group Chief Executive Officer, Entireti Limited
- Scott Hartley Chief Executive Officer, Insignia Financial Ltd
FSC contact
For more information, please contact:
- Harvey Russell Policy Director, Financial Advice & Strategic Advocacy 0411 238 217 hrussell@fsc.org.au
- Cooper Gannon Policy Manager, Economics & Financial Advice 0411 176 130 cgannon@fsc.org.au
Fund Management Board Committee Guides the Financial Services Council's strategy and policy development across funds management and capital markets.
Mandate
The Fund Management Board Committee is responsible for guiding the Financial Services Council's strategy and policy development across funds management and capital markets.
Regulatory engagement
The Committee oversees the FSC's engagement with key regulators and government stakeholders across funds management and capital markets, including:
- Australian Securities Exchange
- Australian Securities and Investments Commission
- Department of the Treasury
Governance
The Committee operates under its formal Terms of Reference, which outline its responsibilities and governance framework.
Role and objectives
The Committee works to:
- Enhance market integrity and efficiency
- Promote strong corporate governance practices across the funds management industry
- Build and maintain consumer confidence in funds management
- Oversee the Investment Expert Group (IEG), which investigates technical policy issues and develops industry positions and submissions
Chair
The Committee is chaired by members of the FSC Board:
- Andrew Creber Managing Director and CEO, Australia & New Zealand, J.P. Morgan Asset Management
- Alison Telfer Chief Executive Officer, Schroders Australia
FSC contact
For more information please contact:
- Aidan Johnson Policy Director, Investments & Funds Management 0421 944 648 ajohnson@fsc.org.au
- James Young Policy Manager, Funds Management & Sustainability 0412 028 849 jyoung@fsc.org.au
Nominations Board Committee Supports the Board in ensuring its composition reflects the right skills, experience and diversity to govern the Financial Services Council.
Mandate
The Nominations Board Committee supports the Board in fulfilling its responsibilities to members by ensuring the Board is composed of individuals with the right skills, experience and diversity to effectively govern the Financial Services Council.
Role and responsibilities
The Committee is responsible for:
- Identifying the skills and experience required for effective Board composition
- Regularly assessing whether these capabilities are appropriately represented on the Board
- Reviewing the level of diversity across Board membership
- Assessing nominations for Board positions
- Establishing processes to identify, evaluate and interview candidates for election or to fill Board vacancies
- Providing timely recommendations to the Board on suitable candidates for appointment
Members
- David Bryant FSC Chair, Chief Executive Officer, Marsh McLennan Pacific and President, Mercer Pacific
- Sean West FSC Deputy Chair, Executive Director, Head of Wealth Management, Macquarie Group Ltd
- Nick Hamilton FSC Deputy Chair, Chief Executive Officer and Managing Director, Challenger Ltd
FSC contact
For more information, please contact:
- Blake Briggs Chief Executive Officer 0423 576 999
Standards, Oversight & Disciplinary Board Committee Oversees the FSC's Standards framework, including Standard No 1 - Industry Code of Ethics and Code of Conduct, and monitors member compliance.
Mandate
The Standards, Oversight & Disciplinary Board Committee is responsible for overseeing the Financial Services Council's Standards framework, including Standard No. 1 – Industry Code of Ethics and Code of Conduct, and monitoring member compliance.
Role and responsibilities
The Committee is responsible for:
- Reviewing proposals from Board Committees for new Standards and updates to existing Standards
- Assessing draft Standards and Guidance Notes, and recommending them to the Board for approval
- Overseeing the annual FSC Standards compliance process and reporting outcomes to the Board
- Considering and assessing complaints relating to FSC member compliance
- Managing breaches of FSC Standards and facilitating disciplinary action where required
Members
- Matt Rady Chief Executive Officer, BT Financial Group
- Daniel Shrimski Managing Director Asia Pacific, Vanguard
FSC contact
For more information, please contact:
- Kylie MacLaren Company Secretary 0488 169 841 kmaclaren@fsc.org.au
Superannuation Board Committee Guides the Financial Services Council's strategy and policy development across superannuation and retirement savings.
Mandate
The Superannuation Board Committee is responsible for guiding the Financial Services Council's strategy and policy development across superannuation and retirement savings.
Regulatory engagement
The Committee oversees the FSC's engagement with key regulators and government stakeholders, including:
- Australian Prudential Regulation Authority
- Australian Securities and Investments Commission
- Australian Taxation Office
- Department of the Treasury
Role and objectives
The Committee works to:
- Enhance the effectiveness, efficiency and sustainability of the superannuation system
- Build and maintain consumer confidence in superannuation
- Improve engagement and financial literacy to support better retirement outcomes
Co-chairs
The Committee is co-chaired by members of the FSC Board:
- Kelly Power Chief Executive Officer, Colonial First State Superannuation
- To be announced
FSC contact
For more information, please contact:
- Kirsten Samuels Policy Director - Superannuation 0435 779 858 ksamuels@fsc.org.au
- Julia Hukka Policy Manager, Investment Platforms & Superannuation 0432 482 155 jhukka@fsc.org.au
Competition law compliance
Meeting conduct requirements
When participating in FSC meetings, members agree that they will:
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Not reach any arrangement or understanding relating to pricing or commercial terms for the supply of competing goods or services
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Not engage in conduct intended to restrict, prevent or limit competition between participants, or that has the purpose or effect of reducing competition in any relevant market
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Not disclose competitively sensitive information, including (but not limited to) current or future pricing, margins, customers, or commercial strategies
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Ensure all discussions and interactions are conducted in a manner that complies with Australian competition and consumer law, as well as all other applicable legal requirements
Working groups
The FSC has more than 80 working groups that bring members together to develop and advance effective public policy across the financial services industry. These working groups play a critical role in shaping policy outcomes on behalf of members. This work would not be possible without the time, expertise, and active participation of our member organisations.
FSC contact
Member Services info@fsc.org.au