Inaugural FASEA board member becomes ACCC deputy chair
One of the key consumer group representatives on the board of the former Financial Adviser Standards and Ethics Authority (FASEA), Catriona Lowe, has been appointed by the Government as deputy chair of the Australian Competition and Consumer Commission (ACCC).
The appointment was confirmed by the Assistant Treasurer and Minister for Financial Services, Stephen Jones who noted the departure of deputy chair, Delia Rickard.
Lowe was an inaugural member of the FASEA board and also held positions with the Australian Financial Complaints Authority (APRA) and the Telecommunication Industry Ombudsman.
She has previously been a director with the ACCC.
Lowe departed the FASEA board in early 2020 after taking up a full-time role as member of the Australian Energy Regulator.
Given how incompetent FASEA was, unless it truly was a conspiracy like some believe, this just shows that incompetence is not a barrier to a new job.
Just look at her previous roles, and what the functionality and degree of success was in those bodies… Just goes to show: “Long Mediocrity” is contagious, and turds float.
People like this are best for large institutions, they often get promoted to at their first, if not higher, levels of incompetence.
FARSEA was beyond a joke and more conflicted than a planner working for an insto or union fund. Anyone who presided over that has no place in governance or regulatory responsibilities.