The Financial Planning Association (FPA) has applauded the appointment of Deen Sanders as CEO of the new Financial Adviser Standards and Ethics Authority (FASEA).

Dr Sanders has led the Professional Standards Authority for the past five years and was chief professional officer of the FPA for six years.

He will be responsible for establishing educational and training requirements, developing and setting an industry exam, and creating a code of ethics for financial planners.

FPA CEO Dante De Gori says Dr Sanders’ “safe pair of hands” will guide the implementation of new standards and improve public confidence in financial planning.

“We look forward to working with Deen and his team at FASEA in preparation for the commencement of the new education and professional standards,” he said.

Earlier this year the Federal Government appointed Catherine Walter as FASEA Chairman for four years.

New requirements for financial planners will take effect in 2019, and the code of ethics will come in the following year.