The Board of the Financial Adviser Standards and Ethics Authority Limited was appointed by the Minister for Revenue and Financial Services, the Hon Kelly O’Dwyer MP on 10 April 2017.
Catherine Walter AM (Chair)
Catherine Walter AM is a solicitor and company director and has served on many listed, government and not for profit boards and government inquiries. Currently Catherine is a member of the Reserve Bank of Australia’s Payments System Board, Deputy Chair of Victorian Funds Management Corporation, Chair of Melbourne Genomics Health Alliance, a Director of Australian Foundation Investment Company and Trustee of the Helen Macpherson Smith Trust. She holds a first class honours Bachelor of Laws, a Master of Laws and an MBA, all from the University of Melbourne.
Mark Brimble is a Professor of Finance at Griffith University Business School. He is a member of the Professional Planner Advisory Board and TEQSA Panel of Experts. He is the former Chair of the Financial Planning Education Council.
Carolyn Bond AO
Carolyn Bond AO is a Director of the Legal Services Board of Victoria, the Debt Repayment Service Board and the Jan Pentland Foundation. She is also an Adjunct Professor at Deakin University. She is a former Co-CEO of the Consumer Action Law Centre and a member of ASIC’s Consumer Advisory Panel.
Deborah Kent is the Managing Director and Founder of Integra Financial Services. She is a former President of the Association of Financial Advisers and Western Sydney Business Connection. She is also a former NSW State Director of the Authorised Representative Association.
Simon Longstaff AO
Simon Longstaff AO is the Executive Director of the Ethics Centre. He also holds board positions with the Banking and Finance Oath, BHPBilliton Forum of Corporate Responsibility, BT Professional Standards Council, Westpac Stakeholder Council, IAG Ethics Committee and AUSTRADE Ethics Committee. He holds a Doctor of Philosophy from the University of Cambridge and a Bachelor of Education from the University of Tasmania.
Catriona Lowe is a Director of the Financial Ombudsman Service, Legal Practice Liability Committee (Vic) and Telecommunications Industry Ombudsman, as well as Co-Chair of the ACCC Consumer Consultative Committee. She is also the former Chair of the Consumers’ Federation of Australia and Co-CEO of the Consumer Action Law Centre.
Michael O’Neill is the former CEO of National Seniors Australia. He is also a former CEO of the Australian Gold Council and AgForce Queensland.
Matthew Rowe is the CEO and Managing Director of Countplus Limited. He is a former Chair of the Financial Planning Association and former Managing Director of financial planning business Hood Sweeney. He is also a former Australian representative to the Financial Planning Standards Board.
Stephen Somogyi is a Director at Guild Group and UniSuper and an advisor at Monash University, Victoria University and University of Melbourne. He is also a former Chief Operating Officer at RMIT and Executive Member of the Australian Prudential Regulation Authority. He holds a Master of Science and Business Administration from MIT and a Master of Science from the University of Melbourne. Stephen is currently Principal Adviser, Strategic Projects at Monash University. Stephen is a Fellow of the Institute of Actuaries of Australia, also of the Australian Institute of Company Directors and of the Financial Services Institute of Australia.
Stephen Glenfield is the Chief Executive Officer of FASEA. Stephen has worked in financial services regulation for over three decades, most recently as a general manager within the Australian Prudential Regulation Authority (APRA). As well as his managerial responsibilities, Stephen was Chair of the APRA’s Superannuation Industry Group. He has also worked with the International Organisation of Pension Supervisors, the Victorian Financial Institutions Commission and KPMG.
Stephen holds a Bachelor of Economics from Monash University and is a member of the Chartered Accountants Australia and New Zealand.
Colin Christie is the Chief Operating Officer of FASEA. He has extensive experience as a Director and Executive with various entrepreneurial, high growth, and private equity backed companies. Mainly working with high growth and turnaround SME’s, he has also held roles in IPO’s, management buy-ins and buy-outs. His industry knowledge extends across financial services, FMCG, retail and distribution, IT, health and medical services.
Colin began his career with EY, qualifying as a Chartered Accountant, and is a Fellow of the Institute of Chartered Accountants. He has also completed the Institute of Directors’ Diploma in Company Direction.
The Act tasks FASEA with the following functions for relevant providers authorised to provide personal advice to retail clients, in relation to relevant financial products.
There are 7 elements to the FASEA work program with differing timelines of compliance for each of them. These include:
Section 95 of the Public Governance, Performance and Accountability Act 2013 (PGPA Act) requires Commonwealth controlled companies such as FASEA to prepare a four year corporate plan. This Corporate Plan articulates the purpose, functions and role of FASEA and associated financial projections, performance measures, risks, and operational environment.
FASEA, in line with other Commonwealth Entities and Commonwealth Companies, publishes information of remuneration for executive and other highly paid staff.