The Financial Advisers Disciplinary Committee (FADC) is an independent body established pursuant to section 103 of the Financial Advisers Act 2008 (the Act).
The FADC conducts disciplinary proceedings arising from complaints about Authorised Financial Advisers (AFAs) relating to breaches of the Code of Professional Conduct for AFAs (the Code) which are referred by the Financial Markets Authority (FMA). [Click to download the Code [PDF, 887 KB]]
The FADC was established in December 2010 by the Minister of Commerce to conduct the disciplinary proceedings described above.
The Act sets out the functions of FADC and authorises it to determine its own procedures in order to meet its responsibilities and obligations under the Act.
FADC’s functions are:
Further information about the hearing process and the procedural rules of the FADC [click to download the Procedural Rules] [PDF, 252 KB] can be found in the Information Guide. [click to download the Information Guide]
The Financial Advisers Act 2008 established the FADC. The FADC is made up of between four and six members.
The current members are:
Hon. Sir Bruce Robertson (Chairperson)
Sir Bruce Robertson was appointed a High Court Judge in 1987, was President of the Law Commission from 2001 to 2005 and then sat on the Court of Appeal until he retired in 2010. Sir Bruce was the Chairman of the Rugby World Cup Authority and is now the Chairman of the Sports Tribunal. He continues a long involvement with the Pacific as President of the Courts of Appeal of Vanuatu and the Pitcairn Islands. He is also a Judge of the Qatar International Court and Disputes Resolution Centre.
Tracey Berry has over two decades of experience in financial services, specialising in wealth management, regulatory affairs, compliance and distribution. She is presently General Manager, TSB Bank and Trustee of Ara Foundation. Tracey has previously held the positions of Non-executive independent Director and Chair of Nikko Asset Management NZ, General Manager Wealth and Insurance, Group Manager at Kiwibank and Head of Wealth Management at Westpac NZ and Head of Private Bank at Bank of New Zealand. Tracey has a Post Graduate Diploma in Personal Financial Planning from Waikato University and holds the following designations: PFP, FFin, AFNZIM.
After a 28-year career as a financial adviser Simon Hassan stepped down from this role in September 2018. Over the years Simon was closely involved with the profession at many levels, both locally and internationally. He was a Fellow of and served two terms as President at the Institute of Financial Advisers (now Financial Advice NZ). Simon also lectured in financial advice at Massey University, and was closely involved with the lead up to financial adviser regulation in New Zealand. Currently independent Chair of Financial Advice NZ’s Certification Committee, Simon provides consultancy services to professionals, firms, government agencies and education providers. Simon has an MA with First Class Honours, a postgraduate Diploma in Education, and a Graduate Diploma in Business Studies (Personal Financial Planning).
Peter Houghton has twenty years of experience in the finance industry in London. He moved to New Zealand from the United Kingdom in 2010, after spending nineteen years in the investment banking industry. The majority of Peter’s career has focused on providing investment research to fund managers’ globally. His last role was Global Head of Investment Research at Dresdner Kleinwort Investment Banking in the United Kingdom, prior to which he held a number of positions with J.P. Morgan.
Sarah-Jane has been a barrister and solicitor for over 25 years, and has had a varied career in New Zealand and England, working both in-house and at law firms, including as a partner at Anderson Lloyd. She is also an independent company director and a Trustee of a number of different philanthropic organisations.
Dr Daniel Tulloch
Dr Tulloch is a member of the Institute of Directors New Zealand and holds other Board and governance-level positions in New Zealand and the United Kingdom. He completed his postdoc in Sustainable Finance at the University of Oxford. He has a PhD in Finance from the University of Otago, a Masters (with distinction) in International Accounting and Financial Management and a Bachelors (Honours) in Psychosocial Sciences from the University of East Anglia.