Thu, 29th Aug 2024

This week's Financial Services Online news wrap covered several key financial topics. JPMorgan announced the winding down of its Sustainable Infrastructure Fund due to a lack of market traction and growth prospects, despite its continued dedication to sustainable investing. Commonwealth Bank responded to competition by reducing fixed and variable loan rates, with predictions of further drops due to central bank policy and funding pressures. The Australian Securities and Investments Commission aligned its reference checking protocol for mortgage brokers with financial advisors' standards, ensuring tightened scrutiny and accountability. The Perth housing market saw significant growth, but a potentially challenging housing shortage looms as property prices rise and population growth outpaces new housing supply.