FPA welcomes Senator the Hon Jane Hume’s expanding role
Attributed to FPA CEO Dante De Gori CFP® in response to Senator the Hon Jane Hume’s expanding role released on 18 December 2020.
The FPA congratulates Senator the Hon Jane Hume, who has been elevated to the Ministry as Minister for Superannuation, Financial Services and the Digital Economy and has assumed responsibility of the broader digital economy portfolio to compliment her existing financial technology, superannuation and financial services portfolios.
Senator Hume has worked closely with the FPA over the past year and achieved a number of positive results for the profession. These include working with the FPA to support consumers affected by the bushfires, providing regulatory relief to financial planners to assist Australian’s through the COVID-19 pandemic, passing of legislation to extend the time for financial planners to complete the Financial Adviser Standards and Ethics Authority (FASEA) exam and study requirements and the announcement of FASEA being wound down and dividing its role between Treasury and ASIC’s Financial Services and Credit Panel (FSCP) to become a single disciplinary body for the profession. As well as working closely to drive amendments to several Royal Commision recommendations including new non-independence disclosures and allowing payment of financial advice fee out of Mysuper and the new enhanced fee disclosure statement regime for renewing ongoing fee arrangements which will help streamline the regulation of financial advice and help improve consumer access to affordable financial advice.
I look forward to continuing our work with Senator Hume and the Government on how we can continue to improve access to affordable and professional financial advice for Australians.