Thu, 4th Apr 2024

In this episode, Paige Estritori discusses key developments in finance on April 4, 2024. It includes the Australian Prudential Regulation Authority's (APRA) investigation into whether super fund investments are meeting fiduciary duties, particularly regarding non-governmental, affordable housing schemes like Aware Super. An international survey show global financial stress due to inflation, necessitating financial institutions and policy-makers to devise better strategies. Domestically, the Australian Financial Complaints Authority (AFCA) is urging lenders to support borrowers facing financial hardship, with a notable uptick in complaints about home loans and credit card repayments in 2023. Lastly, the Australian Council of Trade Unions (ACTU) has received sizable contributions from industry super funds, which they assure will directly benefit members, emphasizing transparency. For more details, visit Financial Services Online's website.n