Areas of Expertise: FoFA & Legal, Compliance, Fee-For-Service, Regulation, Remuneration
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Bill Shorten was elected as the Member of the House of Representatives for the Federal seat of Maribyrnong at the Federal election held on 24 November 2007. On 3 December 2007, he was sworn in as the Parliamentary Secretary for Disabilities and Children’s Services. On 25 February 2009, Bill was appointed as Parliamentary Secretary for Victorian Bushfire Reconstruction in addition to his existing duties.
At the Federal Election held on 21 August 2010, Bill was re-elected as the Member for Maribyrnong and on 14 September 2010, Bill was sworn in as Assistant-Treasurer and Minister for Financial Services and Superannuation.
Bill holds degrees in Arts and Law from Monash University, as well as a Masters of Business Administration (MBA) from Melbourne Business School. Bill completed his secondary education at Xavier College in Melbourne.
Bill began work as a solicitor for Maurice Blackburn Cashman, before entering the union movement in 1994 as an organiser with the Australian Workers’ Union (AWU). During his time at the union, Bill held key leadership positions including State Secretary of the AWU Victoria Branch from 1997 to 2006 and the National Secretary from 2001 to 2007.
Bill has also been a director of AustralianSuper, Australia’s largest superannuation fund and a director of the Victorian Funds Management Corporation. Given the industries that the Union covers, workplace safety and the rights of injured workers have always been key concerns for Bill.
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Bill Shorten MP is spot on about FOFA. It is time to remove self regulation….the USA shows very clearly that this does NOT work, given the GFC which they exported to the rest of the world and is on the brink taking down many, many nations.
We need this industry to be ‘safe’ and to be working hard for their clients and not simply jumping into bed with anyone that pays good commissions.
The biggest fault of the current system, besides commissions, is that the FOFA works for those that hold investment licences, ie..banks, insurance coys, etc. These should be done away with and the Government HOLD the issuing of licences and remove entirely the banks, insurance coys, etc from the equation. These institutions already hold too much power over the economy of Australia.