Finance in Focus
The latest news and headlines across the Australian financial services industry
This week's spotlight news
Government Opens Screen Scraping Consultation
Treasury has released a consultation on screen scraping. This follows a speech given by the Assistant Treasurer and Minister for Financial Services, the Hon. Stephen Jones MP, at the Intersekt conference in Melbourne last week.
2023 AFIA Conference
31 October 2023 | 8.45am to 5.45pm (AEST) | Face to face | $1595 (GST inclusive)
Learn from a power-packed program of industry thought leaders and subject-matter experts, curated to provide a mix of perspectives on the critical issues facing financial services now and in the future.
The 2023 AFIA Conference program is now available for the 2023 AFIA Conference, which will be held on Tuesday, 31 October at one of Sydney’s most iconic waterfront venues, 12-Micron Barangaroo, Sydney.
We have a jam-packed day, showcasing influential thought leaders, policymakers and subject-matter experts from across the Australian financial services community, ready to share their knowledge, experience and future thinking on 'Stepping into New Possibilities' to drive the industry forward.
This conference promises to be an unrivalled platform for networking; learning and exploring cutting-edge innovations, key trends, critical issues and unchartered solutions shaping financial services.
Get ready to connect with business leaders and experts across the industry and learn new perspectives, embrace disruption and be inspired to step outside your comfort zone.
This year's conference will follow AFIA's inaugural awards gala dinner - the Affies - to be held on Monday, 30 October 2023 at the conference venue from 6.00pm to 9.00pm. As a first-ever, the conference registration includes a complimentary seat (valued at $300 + GST) at the gala dinner which recognises changemakers in the finance industry. The Affies are open to AFIA members only and will shine a light on both organisations and individuals who have displayed bold creativity in building solutions that achieve better outcomes for customers and the community. See here for our business and individual award categories. For more details on how it works, FAQs, and how to enter, check out our Awards homepage.
LIMITED FACE-TO-FACE TICKETS AVAILABLE
What's happening this week...
ASIC calls on lenders to support customers in financial hardship
ASIC has released an open letter to lenders - which has been sent directly to 30 large lenders - calling on them to make sure they appropriately support customers experiencing financial hardship.
ASIC Focus on Protecting Vulnerable Consumers and Small Businesses in 23-24
ASIC has announced it will take further enforcement action to protect Australian consumers and small businesses in an environment where scams, digitally-enabled misconduct and predatory lending practices are increasingly prevalent.
ASIC - Implementation timeframes for IDR data reporting
AFIA members covered by the timeframes for the ‘second tranche’ of new internal dispute resolution (IDR) reporting requirements, should have reported their outcomes to ASIC by 31 August 2023.
Consultation on Changes to Laws Against Unfair Practices
The Government is consulting in relation to unfair trading practices can manipulate consumer choice and undermine competition, especially in the digital economy.
APRA Responds to Emerging Risks In 2023-24 Corporate Plan
The Australian Prudential Regulation Authority (APRA) has unveiled its latest Corporate Plan designed to preserve the soundness and stability of the banking, insurance and superannuation industries.
Review of the Modernising Business Registers Program - Final Report
The Australian Government released the Final Report of the Review of the Modernising Business Registers Program (MBR) on 28 August 2023.
Statutory Review of the Payment Times Reporting Act 2020
On 31 August 2023, the Minister for Small Business, the Hon Julie Collins MP, released the written report of the independent review of the Payment Times Reporting Act 2020, conducted by the Hon Dr Craig Emerson.
Climate Change and Central Banks: Speech by incoming RBA Governor, Michele Bullock
The Reserve Bank of Australia’s incoming Governor, Michele Bullock, warned of ‘particularly acute’ uncertainty over how climate change will affect the economy, suggesting that it could make the setting of monetary policy more challenging.
Monthly CPI indicator rose 4.9 per cent annually to July 2023
The monthly Consumer Price Index (CPI) indicator rose 4.9 per cent in the 12 months to July 2023, according to the latest data from the Australian Bureau of Statistics (ABS).
Retail turnover up 0.5 per cent in July
Australian retail turnover rose 0.5 per cent in July 2023 (seasonally adjusted), according to figures released by the Australian Bureau of Statistics (ABS).
Provisional personal insolvency numbers increase in May 2023
Personal insolvencies increased in May 2023, according to new monthly provisional statistics released by the Australian Financial Security Authority (AFSA).
Consumer Data Right for Non-Bank Lending
On 1 September 2023, the Australian Government released their most recent Consumer Data Right Update, which is available here.
CFPB Reaches Multibillion Dollar Settlement with Credit Repair Conglomerate
The Consumer Financial Protection Bureau (CFPB) has entered into a proposed settlement with a ring of corporate entities operating some of the largest credit repair brands in the country, including Lexington Law and CreditRepair.com.
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