FPSB India announces the nomination of the new Board of Directors
Mr. Dhirendra Swarup has been nominated as the Chairman of the Board of FPSB India for the second term.
Mumbai, March 12, 2013: Financial Planning Standards Board India (FPSB India), the Professional Standards Setting body for financial planners in India, announced the Board of Directors for the term April 2013-March 2015. Mr. Dhirendra Swarup, Member Convenor – Financial Sector Legislative Reforms Commission (FSLRC) has been re-nominated as the Chairman of the Board of FPSB India.
The other Board Members are Mr. Cyril Shroff, Managing Partner – Amarchand & Mangaldas & Suresh A Shroff & Co, Mr. Deepak Chatterjee, MD & CEO – SBI Funds Management Pvt. Ltd., Mr. Milind Barve, MD – HDFC Asset Management Company Ltd., Ms. Monika Halan – Editor-Mint Money – HT Media Ltd., Mr. N Sivaraman, President and Whole Time Director – L&T Finance, Mr. Rajan Ghotgalkar, MD – Principal PNB Asset Management Company Pvt. Ltd., Mr. Rakesh Jain, Executive Director and CEO – Reliance General Insurance Co. Ltd., Mr. Ranjeet S Mudholkar, Vice Chairman and CEO – FPSB India, Mr. Suresh Mahalingam, MD – Tata AIA Life Insurance Company Ltd., Mr. Suresh Sadagopan, Founder – Ladder7 Financial Advisories, Mr. Vivek Kudva, Managing Director – India and CEEMA (Central & Eastern Europe, Middle East & Africa) – Franklin Templeton Investments (India) Pvt. Ltd., and Mr. Vivek Law, Editor – Bloomberg TV India.
While welcoming the new members of the Board, Mr. Dhirendra Swarup said, “In the present dynamic regulatory environment, for making the regulations more effective across all domains in the financial sector, there is a need for the establishment of a Self Regulatory Organization (SRO) which could complement the activities of primary regulators in serving the interest of financial consumers. FPSB India is well geared to aid the establishment of the said SRO. We seek the collective wisdom of the Board for achieving the same.”
Mr. Shailesh V Haribhakti, Chairman-BDO Consulting Pvt. Ltd., Chairman of the Nomination Committee, said, “The Board has been established keeping in view the strengths and experiences of each member. We are confident that the synergy and the collective wisdom of the Board will help taking the Financial Planning movement forward.”
It is pertinent to note that under the recently notified Securities and Exchange Board of India (Investment Advisers) Regulations, 2013, the certification awarded by FPSB India has been recognized as one of the eligible qualifications for registration as Investment Advisers (subject to the accreditation by National Institute of Securities Markets). The term “Financial Planning” has been also defined under the said Regulations. Going ahead, this is expected to carve out an era where investment advisers are registered professionals endowed with fiduciary responsibility offering fee-based advisory services, akin to financial doctors. This has been the long standing endeavor of FPSB India whereby Financial Planners come under an evolved category of professionals.
For media queries, please contact: