Inaugural member of the FASEA board departs

The Financial Adviser Standards and Ethics Authority (FASEA) has confirmed the departure of a member of their board.

Catriona Lowe will depart the organisation at the end of January. An experienced litigator and director for several government agencies, Lowe was one of the first three appointees to the board due to her experience representing consumers of financial advice.

In a statement, FASEA says that Lowe has been appointed to a full-time role as State/Territory member of the Australian Energy Regulator. Due to the full-time nature of the new role, she'll be unable to devote the necessary time to the FASEA board.

Lowe held positions on the FASEA standards committee and was chair of the audit and risk management committee.

In addition to her directorship with FASEA, Lowe holds board positions with the Australian Financial Complaints Authority (AFCA) and the Telecommunication Industry Ombudsman. She was previously a director with the ACCC, the Financial Ombudsman Service, and the Consumer Federation of Australia.

In their statement, the FASEA board expressed gratitude for the "drive and skill she has brought to FASEA and her outstanding contribution to the formation of FASEA and development and implementation of its important legislative remit. The board wishes her success in her future role."