Sun, 4th Aug 2024

In this Daily Financial Services News Wrap, Paige Estritori covers key financial updates in Australia. Two farmhouse owners lost their earthquake damage claims due to pre-existing faults, illuminating the need for consistent property maintenance. The Albanese government is spearheading affordable, accessible financial advice programs to fight the rising tide of financial scams, which cost Australians $2.74 billion in the previous year. Rising rental costs are straining financial resources, with prices outpacing income growth and severe housing shortages contributing to this issue. Lastly, the Australian Securities and Investments Commission is implementing stringent measures to ensure honest record-keeping among financial advisers. It is placing more emphasis on penalties for falsified information, underlining the importance of trust in this profession.