The Federal Government has appointed lawyer Fiona Crosbie to the Financial Regulator Assessment Authority (FRAA), established last year following a Hayne royal commission recommendation.

Ms Crosbie, who takes up the role today, is chairman of law firm Allens and recently chaired the Competition and Consumer Committee of the Law Council of Australia.

FRAA, an independent statutory body, is tasked with assessing the effectiveness and capability of the Australian Securities and Investments Commission and the Australian Prudential Regulation Authority.

The Government named former Macquarie Group CEO Nicholas Moore as FRAA chairman last year, and the authority also includes Craig Drummond, who served as Medibank CEO from July 2016 to 2021.

Gina Cass-Gottlieb, who was previously appointed to the authority, has today become Chairman of the Australian Competition and Consumer Commission

Ms Crosbie’s appointment extends until September 14 2026.