Sherry retains ALP’s financial services brief


Nick Sherry
The Federal Opposition has opted for continuity with respect to the Australian financial services industry, retaining Tasmanian Senator Nick Sherry as its spokesman on superannuation, intergenerational finance, banking and financial services.
The leader of the Opposition, Kevin Rudd, said Sherry would be part of the Australian Labor Party’s economic team, which now includes shadow treasurer Wayne Swan, assistant treasurer Chris Bowen, and shadow finance minister Lindsay Tanner.
Sherry’s reappointment to handle the broad financial services portfolio means that he has retained the role under no fewer than four opposition leaders — Kim Beazley, Mark Latham, Simon Crean and now Kevin Rudd.
The Opposition is expected to announce further details of its financial services policy next year.
Recommended for you
Licensee Centrepoint Alliance has completed the acquisition of Brighter Super’s annual review service advice book, via Financial Advice Matters.
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.