Walter to continue as FASEA chair until wind-up
The chair of the problem-plagued Financial Adviser Standards and Ethics Authority (FASEA), Catherine Walter, will continue in her role in a part-time capacity.
Walter’s reappointment as part-time chair was confirmed today by the Minister for Superannuation, Financial Services and the Digital Economy, Senator Jane Hume.
Hume announced that Walter had been reappointed from 11 April, 2021, and as chairperson of FASEA would continue to work with the board consulting on and refining the Standards for Financial Advisers that remain under FASEA’s responsibility until the organisation is wound up.
The Government announced in December that the standard-making functions of FASEA would be moved into Treasury and the remaining elements of FASEA’s role, including administering the adviser examination, will be incorporated into the Financial Services and Credit Panel within the Australian Securities and Investment Commission.
Recommended for you
Government has introduced a bill to Parliament to legislate the first stream of the QAR reforms.
ASIC now has a 1:1 ratio when it comes to court success in the enforcement of crypto activities and more action is expected as Treasury seeks to introduce a regulatory framework.
A leading governance body has hit out at “specialist interest groups proposing ad hoc law reform” when it comes to reforms of financial services legislation and believes an independent body is needed.
The release of ALRC’s final report into financial services legislation has highlighted financial advice as a “significant” focus as it seeks to reduce costs and help advisers understand their obligations, alongside the Quality of Advice Review.