Only weeks into the portfolio, shadow Minister for Financial Services Kevin Hogan has no shortage of pressing issues to contend with: the regulatory fallout from the Shield and First Guardian collapse, the future of the Compensation Scheme of Last Resort, and the push to reform the APRA performance test.
He is sympathetic to concerns about the CSLR levy becoming prohibitive for practising advisers, and he flags phoenixing – parent companies collapsing and reopening under new structures – as a genuine area of bipartisan focus. Hogan is not sold on the idea that a three-year university degree is the right gateway into financial planning.
Hogan comes to the portfolio with industry experience – before entering parliament 12 years ago, he spent a decade as a bond trader in Sydney and has worked for Colonial First State and as an investment officer for the Catholic Superannuation and Retirement Fund.
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