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.
