The FPA and the Association of Financial Advisers (AFA) have both formed task forces to work with the government and regulator over the recently announced financial services inquiries.
The FPA formed a task force on 27 February following the parliamentary committee’s plans to conduct an inquiry into issues associated with recent financial product company collapses, including the role played by financial advisers.
The task force will be chaired by Hood Sweeney Securities executive and FPA board member Matthew Rowe, FPA chief executive Jo-Anne Bloch said.
Other members of the task force will be made up of a cross-section of FPA members, Bloch said.
“The task force will consult with members, it will look at all the issues, it will represent the FPA at any parliamentary inquiry hearings,” she said.
“And it will make sure that it does two things: it will set the record straight in terms of what we have achieved and what to protect, but it will put on the agenda the issues that we think need to be addressed.”
Yesterday, the AFA announced the formation of a government and policy committee to work with the government and the regulator.
The AFA has nominated representation to government as one of its key priorities over the coming few years, AFA president Jim Taggart said.
“It’s about access and working in collaboration with government and the regulator to ensure good outcomes across the marketplace for consumers and advisers,” Taggart said.
“The need for common sense and practical responses from advisers to government and the regulator are now more important than ever,” he said.
The AFA’s committee will be chaired by Michael Murphy. The association also appointed Alexis Compliance & Risk Solutions as a strategic partner to the committee.
