The Financial Planning Standards Board (FPSB) has formed a new committee to oversee global competency, ethics and practice standards for the industry.

Chairing the committee will be former Australian Securities and Investments Commission Executive Director Ian Johnston, who is at present MD of the Dubai Financial Services Authority.

Other members of the committee are Simon Hassan from NZ; Alan Kershaw from the UK; Wesel Oosthuizen from South Africa; Lynn Pi from Hong Kong and Richard Ploss from the US.

FPSB board Chairman Corinna Dieters, a former FPA chairman, welcomed the global composition of the new committee.

“The board sought recognised experts in the fields of professional standards-setting, regulation and financial planning education, curriculum development and certification,” she said.

“The committee’s broad range of experience and depth of knowledge will not only help develop high-quality standards that represent excellence in financial planning; it will help us achieve consistent and appropriate application of those standards around the world.”

The FPSB will also create a certification and standards advisory panel to provide advice and guidance to the new committee.

Members of the panel will come from the various global financial planning organisations that belong to the FPSB.