The Financial Adviser Standards and Ethics Authority (FASEA) is again on notice to explain to Senate Estimates how it went about the consultation process around the development of the financial adviser code of ethics.
Cross-bench South Australian Senator, Rex Patrick placed key questions to FASEA on the Senate notice paper which, as yet, remain unanswered by the authority.
Patrick has asked FASEA which stakeholders were engaged in the consultation period around the development of the code of ethics, whether the consultation was conducted by “survey, by some sort of town hall meeting-and, indeed, from which entities you received submissions” and the timelines.
“Could you maybe lay out the actual internal process that FASEA went through in terms of who was involved in that final determination and how they took input from consultation and acted on it,” the Senator asked.
The questions on notice to FASEA are among a raft of questions asked during the March Senate Estimates hearings, none of which have yet been answered by any of the Government departments and agencies involved.