Media Releases

The Joint Associations Working Group (JAWG) welcomes the publication of the Quality of Advice Review (QOAR) Proposal Paper. The Quality of Advice Review is critically important given its focus on how to improve the current system of providing financial advice for the benefit of all consumers. This Proposal Paper demonstrates the Federal Government’s ongoing commitment to an independent review aimed at identifying suitable ways to improve access to quality, affordable and accessible financial advice for all Australians.

FINSIA CEO and Managing Director Yasser El-Ansary paid tribute to APRA Chair Wayne Byres, who has announced he is standing down from his role at the prudential regulator. The Senior Fellow who has had a three-decade association with FINSIA, having been a member of both predecessor bodies: the Australasian Institute of Banking and Finance and the Securities Institute of Australia, will be leaving his role in October.

FINSIA – the professional membership body for the financial services industry – today welcomed the Anthony Albanese Government initiative to put the Australian economy centre stage with a Jobs and Skills Summit in September. The two-day summit that will bring together key stakeholders to address the challenges facing the country is an ideal opportunity for financial services to play a significant role in steering us away from recession, FINSIA CEO and Managing Director Yasser El-Ansary said.

The Joint Associations Working Group (JAWG) has collaborated to lodge a submission to Treasury’s Quality of Advice Review calling for a more consumer-focused regulatory approach, reduced costs, and greater recognition of professional judgement. Existing regulatory requirements are confusing, complex, and overwhelming and mandate a one-size-fits-all advice process that neither caters for, nor considers, the individual needs and circumstances of each consumer. This could be addressed by ensuring advice is less costly to produce and presented in a way that is meaningful and more easily understood by individual consumers, under a principles-based, consumer-focused regulatory framework that encourages professional judgement.

The announcement of ministerial responsibilities within the new Albanese Government establishes a solid foundation upon which a broad-based policy reform agenda should be built, according to FINSIA – the Financial Services Institute of Australasia.

FINSIA has elected David Cox F FIN as its new President, who will succeed Victoria Weekes SF FIN, who is retiring after serving a maximum term at the leading Australasian financial services industry-wide membership body.

FINSIA – the professional membership body for the financial services industry – has today welcomed the new Anthony Albanese-led Government into office, and at the same time, thanked the previous Morrison Government for the work done in leading Australia through a difficult and uncertain period across significant economic and public health challenges.

The President of FINSIA – The Financial Services Institute of Australasia – Ms Victoria Weekes today announced Chris Whitehead’s decision to step down as Managing Director and CEO, and the appointment of Mr Yasser El-Ansary to replace him.

While CoP26 debates climate change targets, FINSIA - the professional membership body for financial services - has called for a dramatic increase in the climate science capability of financial services organisations and professionals.

The Chief Executive and Managing Director of FINSIA adds role leading securities markets professional bodies across Japan, Hong Kong, Thailand, Taiwan, South Korean, Vietnam as well as Australia and New Zealand.