Pat Conaghan, the Federal Member for Cowper, NSW, has been appointed as Shadow Assistant Treasurer and Shadow Minister for Financial Services. The announcement comes as part of a broader reshuffle within the federal opposition.
A member of the National Party, Conaghan brings both legal and law enforcement experience to the portfolio. He has sat on committees including the Australian Commission for Law Enforcement Integrity, and the National Disability Insurance Scheme.
In his new role, Conaghan will support Shadow Treasurer Ted O’Brien and lead the Opposition’s engagement on financial services, including banking policy, superannuation, and consumer finance regulation.
Deputy Liberal leader and federal member for Fairfax, Ted O’Brien is shadow treasurer.
Sarah Abood, CEO, FAAA, said: “Mr O’Brien and Mr Conaghan will play an important role in holding the government to account on key issues for the financial advice profession such as the Compensation Scheme of Last Resort and the Delivering Better Financial Outcomes reforms.
“The Australian financial advice sector requires substantial reform to achieve a regulatory regime that will deliver improved access and affordability of financial advice for Australians. I look forward to working constructively with Mr O’Brien and Mr Conaghan to ensure more Australians are empowered to achieve financial wellbeing.”
Oh dear me, the saga that is financial services continues on
For the 1919 air race to Australia, the manufacturer Vickers entered a converted Vimy bomber piloted by Ross & Keith Smith. and accompanied by two mechanics.
Registration for that aircraft was G-EAOU. When asked, the Smith brothers posited that it actually stood for "God 'elp all of us"
That's the first thought that crossed my mind with the announcement of the appointment of Mr Conoghan. As a lawyer, he'll probably find like minds over at ASIC. There is absolutely no chance the Coalition would ever agree to lifting LIF back to where it needs to be, with a lawyer developing its ideas
Sadly we continue to spin around in the Sargasso Sea that is financial services in Australia
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