It is now official. The Financial Adviser Standards and Ethics Authority (FASEA) is now overdue in answering key questions on notice from Senate Estimates.
A check of the Senate Estimates website has confirmed that two questions taken on notice by FASEA chief executive, Stephen Glenfield from Queensland Liberal Senator, Amanda Stoker remain unanswered and are now officially overdue.
The questions were asked on 23 October and related to submissions received from the Australian Securities and Investments Commission (ASIC) during FASEA’s consultative processes.
Senator Stoker also asked Glenfield why FASEA had not released any of the submissions it received throughout its consultation process – something he also opted to take on notice.
Both questions are now deemed to be overdue for answers, although FASEA is in good company with other Government departments and agencies also having failed to answer questions from the Estimates hearings at this time.