Cormann a loss to financial services

government/treasury/Mathias-Cormann/

6 July 2020
| By Mike |
image
image
expand image

The announcement that the Minister for Finance, Senator Mathias Cormann will be exiting politics before the end of the year means the Government will be losing the services of a minister with a deep knowledge of the financial services industry.

Cormann covered the financial services portfolio in opposition and again in Government during the Prime Ministership of Tony Abbott when he carried the job alongside his finance portfolio responsibilities during the illness of Senator Arthur Sinodinos.

What is more Cormann was one of leading voices in seeking key amendments to the Labor Government’s Future of Financial Advice (FoFA) changes during the Abbott Government albeit that, ultimately, the Government could not muster the numbers to sustain regulatory and other changes in the Senate.

Cormann is scheduled to exit the Senate in around October.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

1 month 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months ago

Entireti has unveiled the new name for the AMP financial advice businesses that it acquired last year....

4 weeks ago

A Sydney financial adviser has been permanently banned from providing any financial services, with the regulator deriding his “lack of integrity, trustworthiness and prof...

2 weeks 6 days ago

Minister for Financial Services, Stephen Jones, has provided further information about the second tranche of the Delivering Better Financial Outcomes (DBFO) reforms....

1 week 5 days ago

TOP PERFORMING FUNDS