Wed, 17th Sep 2025
from Finance News Wrap Hosted by Paige Estritori
This week on Financial Services Online's Weekly Finance News Wrap, host Paige Estritori discusses the latest industry updates. The Australian Securities and Investments Commission has rolled out updated financial advice legislation, ASIC Corporations Instrument 2025/234, blending three previous regulations. However, the Financial Advice Association Australia notes a need for clearer consumer education on advice types. In banking, the Commonwealth Bank of Australia and other major banks dispute the Reserve Bank of Australia's plans to lower card transaction charges, questioning the proposed annual savings for companies. An increased consumer spending trend could influence potential rate cuts, according to the Commonwealth Bank, but a smaller cut is still expected in November. Lastly, calls increase for financial resolution regarding the Compensation Scheme of Last Resort's delay in payments due to a $47.29 million funding gap.
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