Is Mulino ALP’s next Financial Services choose? | Australian Markets
With the Assistant Treasurer and Minister for Financial Services, Stephen Jones not returning to the Parliament after the upcoming Federal Election, a front-runner to succeed him the portfolio is ACT Labor backbencher, Daniel Mulino.
Mulino, who was a Labor member within the Victorian Legislative Council between 2014 and 2018 and who gained the Canberra seat of Fraser on the 2019 Federal Election would come to the financial providers portfolio with exceptionally robust credentials.
Mulino holds a PhD in economics and was financial adviser to Bill Shorten when he held the financial providers portfolio within the former Gillard Labor Government.
Just as importantly, he has been chairman of the House of Representatives Standing Committee on Economics which has overseen the actions of the Australian Securities and Investments Commission (ASIC) and the Australian Prudential Regulation Authority (APRA).
Given his robust background in economics and expertise working with Shorten, some have been shocked that Mulino was not appointed to the financial providers portfolio forward of Jones in 2022.
He is comparatively well-known to the financial providers sector, having delivered keynotes at a quantity of conferences together with the Stockbrokers and Investment Advisers Association (SIAA).
The shadow minister for Financial Services, Luke Howarth is healthier recognized to the financial providers sector and has earned reward from the financial advice sector for his preparedness to observe by way of on pursuing modifications to the funding of the Compensation Scheme of Last Resort (CSLR) and different points.
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