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19 April 2021
Catherine Walter has been reappointed part-time Chairman of the Financial Adviser Standards and Ethics Authority (FASEA).
She will continue to 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, Minister for Financial Services Jane Hume said in a statement.
Last December the Morrison Government announced plans to wind up FASEA, responding to industry concerns over rising operating costs such as increased regulatory compliance.
The standard-making functions of FASEA will be moved to Treasury and the remaining elements of its role, including administering the adviser examination, will be incorporated into the Financial Services and Credit Panel. The panel sits within the Australian Securities and Investments Commission.