Finance in Focus Portal
Scam prevention: CBA research shows less than 10 per cent of Aussies would discuss their scam experience with family
New research commissioned by CommBank shows more than 90 per cent of Aussies believe that talking about scams with their loved ones will help to build awareness, however only 8 percent say they would be comfortable discussing with family about being scammed.
In other news
ASIC makes new clearing and settlement rules to promote competition (25 February)
House of Representatives Committee on Economics Report on Review of the ACCC Annual Reports (March)
AUSTRAC CEO Brendan Thomas speech about regulating the gaming industry (25 March)
ABS: Australian National Accounts: Finance and Wealth (27 March)
ASIC review into the motor vehicle finance sector
The Australian Securities and Investments Commission (ASIC) is launching a review into the motor vehicle finance sector this month with the aim to drive better consumer outcomes, particularly for those living in regional and remote locations, including First Nations communities.
AFR Banking Summit
The Australian Financial Review Banking Summit was held on Tuesday 18 March at the Hilton Sydney, which heard from a number of industry, media, and regulatory speakers.
AFCA opens joint consultation on draft Approach to family violence and Approach to financial elder abuse
The Australian Financial Complaints Authority (AFCA) is inviting feedback from stakeholders on two Approach documents that focus on key areas within banking and finance.
AFCA webinar on its Approach to Small Business Lending
The Australian Financial Complaints Authority (AFCA) is conducting a check-in with stakeholders by webinar after a period of 12 months following implementation of its Approach to Lending to Small Business.
Strengthening the enforcement of the Franchising Code
Minister for Small Business Julie Collins has announced the Government will aim to strengthen the enforcement of the Franchising Code of Conduct and extend protections from Unfair Contract Terms and Unfair Trading Practices to all businesses regulated under the Code, including automotive dealerships.
New Statement of Expectations for the Payment Times Reporting Regulator
Minister for Small Business Julie Collins has announced the release of a new Statement of Expectations for the Payment Times Reporting Regulator, which sets expectations for the Regulator to foster a culture of prompt payment times by increasing the visibility and accessibility of payment times data.
AUSTRAC: FATF updates on global ML/TF risk – February 2025
The Australian Transaction Reports and Analysis Centre (AUSTRAC) has announced the Financial Action Task Force (FATF) has published two recent updates relating to international money laundering, terrorism financing and proliferation financing (ML/TF/PF) risk.
Inquiry into Infrastructure for electric and alternative energy source vehicles in NSW
The NSW Legislative Assembly Committee on Transport and Infrastructure has commenced an inquiry which will look at the existing and future infrastructure needed to support electric and alternative energy source vehicles across NSW.
CreditorWatch monthly Business Risk Index
CreditorWatch has published its latest monthly Business Risk Index (BRI) for February, with data on invoice payment defaults, a key measure of business stress, showing a 47 per cent increase for the 12 months to February 2025 as higher costs of inputs and softer demand over much of last year meant more businesses struggled to pay their trading partners.
OECD Economic Outlook, Interim Report March 2025
The Organisation for Economic Co-operation and Development has published its Economic Outlook, Interim Report March 2025 which finds the global economy remained resilient in 2024, expanding at an annualised pace of 3.2 per cent.
Developing an Innovative Australian Digital Asset Industry
Treasury has released a statement announcing the Government’s intention to work with ASIC and industry in developing legislative reforms which will extend existing financial services laws to key digital asset
Deloitte: The Current – Issue 06
AFIA Associate Member, Deloitte has published its latest issue of The Current, a platform for news and expert views on cybersecurity, with this particular issue encompassing a joint survey with SailPoint which reveals the latest identity security insights from over 400 executives.
Allens: Class Action Risk 2025
AFIA Associate Member Allens has published its latest Class Action Risk 2025 which provides an update on the current indicators and drivers of class action risk, with a particular focus on how that risk was spread across a wide range of sectors in 2024.
Gadens: Legal insight | Introduction of the Scams Prevention Framework
AFIA Associate Member, Gadens has published an online article which provides a helpful introduction to the Scams Prevention Framework, setting out the principles of the Framework, the regulatory structure that underlies the Framework, and what it means for regulated entities captured by the Framework.
Government finalises Consumer Data Right rules for non-bank lenders (Copy)
Minister for Financial Services Stephen Jones has announced the final Rules for the Consumer Data Right (CDR) extension to the non-bank lending sector, commencing from mid‑2026. The sector was formally designated in 2022.
FCA: Statement on motor finance review next steps
The UK’s Financial Conduct Authority has announced that pending the Supreme Court hearing an appeal on 1 to 3 April against the Court of Appeal’s judgment regarding firms failing to comply with requirements relating to motor finance discretionary commission arrangements, it will confirm within 6 weeks of the Supreme Court's decision if it will propose a redress scheme and if so, how it will take it forward.
Quarterly Statement by Council of Financial Regulators
The Council of Financial Regulators has published its latest quarterly statement, which discussed the highly uncertain international environment, with geopolitical tensions and policy uncertainty magnified, and the intensity of cyber risks increased.
OAIC: Access seekers and credit reporting information
The Office of the Australian Information Commissioner has published a blog post elaborating on its approach to the Access Seeker provisions under section 6L of the Privacy Act 1988.