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New industry umbrella unfolded in Australian markets

New industry umbrella unfolded in Australian markets

(6 July 2005 - Australia) The Australian finance industry has moved to formalise ongoing cooperation on industry-wide issues with the formation of the Finance Industry Council of Australia (FICA). The new council consists of existing industry groups including: The Australian Bankers’ Association (ABA); Australian Financial Markets Association (AFMA); Insurance Council of Australia (ICA); and the Investment and Financial Services Association (IFSA).

Inaugural Chair of FICA, and CEO of AFMA, Mr Ken Farrow notes, "the catalyst for the formation of FICA was essentially the unified and cooperative approach that the Australian financial services industry took to working through industry reform in the areas of corporate governance and reform of financial services legislation.

Other FICA Board members are: Mr David Bell, CEO, ABA; Mr Ron Hardaker, Executive Director, Australian Finance Conference; Mr Ken Farrow, CEO, AFMA; Mr Alan Mason, Executive Director, ICA; and Mr Richard Gilbert, CEO, IFSA.
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