FASEA director gets new Govt gig

One of the most influential consumer representatives on the board of the Financial Adviser Standards and Ethics Authority (FASEA), Catriona Lowe, has picked up another Government appointment, this time the board of the Australian Energy Regulator.

Lowe, who has held roles at the Consumer Action Law Centre, was named as having been appointed to the Australian Energy Regulator by the Minister for Energy and Emissions Reductions, Angus Taylor alongside the economist, Eric Groom and lawyer Justin Oliver.

Lowe will be a fulltime member of the AER, raising questions about her continued involvement with the board of FASEA.

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The minister said the appointments to the AER were for a five-year period commencing in February.

A recent survey conducted by Money Management revealed financial advisers had significantly low levels of confidence in the FASEA board, with more than 90% believing ministerial intervention was warranted.

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If Minister Hume needs a justification for removing Lowe from the FASEA Board then perhaps this is it?

Let's be clear, Lowe and her cronies from CALC and Choice are not consumer representatives. They are political activists intent on imposing their extremist ideological views on the community. They do not care that they are doing most consumers more harm than good. Lowe should be replaced on the FASEA Board with a genuine consumer representative. Ideally one who is an existing client of a financial adviser.

I have no idea about Lowe's influence on what FASEA has done, but given the complete and utter farce that FASEA has become, none of the directors should be granted other Government positions until this disaster is cleaned up. FASEA has made no effort to properly consult with advisers or consumers and they have not made any attempt to research or understand the negative consequences of their actions. Either the talent pool of so-called 'consumer advocates' is extremely small, or the Government is completely out of touch with what is going on with FASEA.

I'm sorry, it's time to go Lowe! If she & the FASEA Board can't handle the existing workload, given her new fulltime appointment, surely there is now "a conflict of interest" between competing appointments?

Wow. Just goes to show, government appointments are based on who you know and have nothing to do with morals, ethics, results or experience in the field. I wonder what would happen if government agencies and their "workers" had to abide by the Best Interests Duty?

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