Fri, 28th Jun 2024

On this episode, we cover critical financial news. First, Westpac's banking practices have been judged inadequate by the Banking Code Compliance Committee, following the closure of a rural branch, which had significant impacts on the community. In energy, Australia's energy market could face some of the highest costs globally due to early closure of coal power plants and increased reliance on gas. The Australian Securities and Investments Commission is implementing new notification rules for financial advisors, focusing on those using the experience pathway. Lastly, financial advice costs are rising due to slow regulatory reforms, with an estimated annual increase of $250 million in client fees. Stay updated on these issues and more at financialservicesonline.com.au.