News in Brief

  • Labor Names New Shadow Minister for Financial Services
  • AFA Awards Nominations Open

Labor Names New Shadow Minister for Financial Services

Former Shadow Minister for Small Business and Financial Services, Senator Katy Gallagher

The Federal Opposition has named Shadow Treasurer, Chris Bowen as Acting Shadow Minister for Small Business and Financial Services following the resignation of Senator Katy Gallagher.

Gallagher stepped down from the role, and her Senate seat, after the full bench of High Court ruled on 9 May 2018 that she was not eligible to stand for election at the July 2016 federal election.

The Court ruled Gallagher was still a British citizen at the time of nominating as a candidate on 31 May 2016 for the election which took place on 2 July 2016, and at which time she was elected as a Senator for the Australian Capital Territory.

Gallagher had begun proceedings to renounce her British citizenship prior to the election, but the High Court ruled that since this request was registered by the UK Home Office on 16 August 2016 she was a citizen of a foreign power under Section 44 of the Australian Constitution at the time of the election and was not eligible to stand for office.


AFA Awards Nominations Open

AFA Chief Executive, Phil Kewin

The AFA has opened nominations for two of its annual awards – the Rising Star and Female Excellence in Advice – which are awarded each year at its National Adviser Conference.

AFA Chief Executive, Phil Kewin said the Rising Star Award, jointly presented with ANZ Wealth, recognises advisers with four years’ experience or less “…who are paving the way for our profession”.

Finalists for the award will attend a full day workshop in September covering business, financial and personal objectives and ID profiling to help identify drivers and values and the winner will receive quarterly, personalised coaching from experienced Business Coach and qualified financial adviser, Phil Little for 12 months.

The Female Excellence in Advice Award, jointly presented with TAL, recognises “…female advisers that not only have a passion and commitment to professionalism, but also a real focus above and beyond the day-to-day in increasing female involvement in financial advice,” Kewin said.

The winner of the Award will receive a $15,000 education package, courtesy of TAL, which will be tailored to the winner’s requirements in furthering her professional development.

Nominations for the both awards close 30 June and applications close on 6 July.