In a statement, FASEA confirmed the resignation of Catriona Lowe as a director of the authority, effective from 31 January.
Ms Lowe has been appointed to a full-time role as a state/territory member of the Australian Energy Regulator, effective 3 February 2020, FASEA said.
She was an inaugural member of the board, appointed by FASEA as one of three directors with experience in representing consumers of financial advice.
“Due to the full-time nature of her new role, Catriona will be unable to continue to devote the necessary time and effort to her important work on the FASEA board,” FASEA said.
“She has been an integral part of FASEA’s board and supporting committees standing on both the Standards Committee and more recently as chair of the Audit and Risk Management Committee.
“The board wishes to express its gratitude to Catriona for the drive and skill she has brought to FASEA and her outstanding contribution to the formation of FASEA and development and implementation of its important legislative remit.”
Yeah she caused havoc at FARSEA and everywhere else and so now it’s off to the Australian Energy Regulator, another government authority. No idea about running a business and learning how to work in the real economy.
Much the same with the others at FARSEA, they should all be sacked, just a bunch of red tape bureaucrats.
If she contributed in any way to the current fiasco, how on earth did she get another gig ? The mind boggles !
How many FARSEA board members have ever used or are actually a client of a real Financial Adviser ??
I guessing less than 25% have any real world actual advice experience they have received and would thus have zero understanding of the real world client process, compliance, time, costs etc.
FARSEA directors please confirm ?
“appointed by FASEA as one of three directors with experience in representing consumers of financial advice.”
This is the problem right here, 1/3 of the board represents conflicted consumer groups who know nothing about advice or what good advisers do for their clients.
Another rat deserts a stinking sinking ship.
FARSEA the law unto themselves that can’t even explain the real world workings of their own laws.
More BS bureaucratic Red Tape Anyone ???
Let me know when the headline reads “Entire Board of FASEA resigns“
Agreed, in particular, the Director of Standards at FASEA who has no advice experience or any qualifications, must be asked or made to leave as soon as possible!
Good riddance. Lowe came from CALC, one of those fake “consumer associations” that uses taxpayer money to lobby for extremist ideologies that ultimately do most consumers more harm than good.
Hopefully Elissa Freeman from Choice, another taxpayer funded fake “consumer association”, also gets booted from the FASEA Board soon. They should both also be booted from AFCA.
If these people want to get their extremist views implemented, then stand for parliament to get a legitimate mandate for them first. It is an affront to democracy for them to be imposing their narrow ideology on others via appointments to quasi government and taxpayer funded bodies such as FASEA, AFCA, CALC, and Choice.