Financial Services Online News Headlines

Fri, 20 Jun: A recent analysis by the Australian Retirement Trust signals substantial financial improvement for young Australian workers, who are expected to be $125,000 richer in their retirement funds due to changes in superannuation contributions. Implemented over the past five years, these adjustments represent a positive shift for the future financial stability of Australia's workforce. - read more

Fri, 20 Jun: The Australian Prudential Regulation Authority (APRA) has released pivotal updates to the Prudential Practice Guide APG 223 and Reporting Standard ARS 223.0, focusing on how Authorised Deposit-taking Institutions (ADIs) should integrate Higher Education Loan Program (HELP) debt into home loan evaluations. The changes are aimed at enhancing regulatory clarity and acknowledging the individual circumstances of borrowers, including the nuances of their HELP debts, without compromising prudent lending practices. - read more

Fri, 20 Jun: An Australian travel policyholder has been denied a claim payout after his planned cruise in the Red Sea was cancelled due to conflict. The insurer, Southern Cross, invoked its policy's war and violence exclusion clause, as disturbances in the region were linked to military activities, rendering the claim invalid. - read more

Fri, 20 Jun: In the face of ongoing economic turmoil encompassing inflation, market volatility, and other financial stresses, a global survey from Natixis Investment Managers, conducted by CoreData Research, has highlighted a growing trend: investors are increasingly relying on their financial advisers. With 91 per cent of surveyed investors expressing trust in their financial advisers for investment decisions, this highlights an unmistakable shift amidst financial uncertainty. - read more

Wed, 18 Jun: Perth's real estate market continues its upward climb as property prices are projected to rise steadily over the next two years. Recent reports from Domain and Momentum Wealth highlight that both detached homes and units in Perth are expected to appreciate by significant margins, driven by robust demand and constrained supply. - read more

Wed, 18 Jun: New research from the University of South Australia has intensified calls for the Australian Federal Government to reform the process for accessing the superannuation of foreign workers from Pacific and Timor-Leste, currently tied up in administrative complexity. - read more

Wed, 18 Jun: Recent data from the 2025 Central Banks Gold Reserve Survey indicates a renewed focus on gold among the world's central banks. As these financial institutions adapt to the changing economic landscape, their strategies increasingly involve boosting their gold reserves. - read more

Wed, 18 Jun: The ACT Insurance Awards have recently acknowledged the standout performers within the insurance sector, with EML Group's Canberra branch receiving the prestigious title of Insurance Leader of the Year. This accolade sets a benchmark in the industry, emphasising excellence and leadership among its professionals. - read more

Tue, 17 Jun: Investment in private credit is not a contemporary innovation; its roots trace back to ancient times. The evolution of direct lending, particularly in the UK, Europe, and the US, intensified across the 18th to the 20th centuries, serving as a crucial alternative during frequent banking crises. The current surge in private lending originated in the 1990s amidst burgeoning internet startups, and was further propelled by tighter banking regulations and historically low interest rates post the Global Financial Crisis. - read more

Tue, 17 Jun: The Australian Prudential Regulation Authority (APRA) has heightened cybersecurity demands on superannuation fund trustees, following recent alarming 'credential stuffing' attacks. These incidents underscored persistent weaknesses in the information security defenses of superannuation licensees, particularly concerning authentication measures. - read more

Tue, 17 Jun: Australia's superannuation concessions are increasingly in the spotlight as calls for reform grow louder. The call arises from concerns about the equity and sustainability of these financial breaks, which are projected to cost the federal budget approximately $60 billion in lost revenue by the fiscal year 2024-25. This figure is expected to continue its steep climb in the years that follow. - read more

Tue, 17 Jun: The Australian Financial Complaints Authority (AFCA) finds itself inadvertently entangled in sophisticated scamming operations. The Stockbrokers and Investment Advisers Association (SIAA) has identified a tactic whereby fraudsters use AFCA's complaint system to lend credibility to their scams by taking over victims' accounts and falsely lodging complaints. - read more

Tue, 17 Jun: Australia's political and defence leadership is expressing significant concern over escalating violence between Iran and Israel, highlighting potential threats to the global economy. The conflict began with Israel's unexpected strikes on Iranian military targets, followed by mutual retaliation, which has led to a dramatic rise in global oil prices. This development is seen by economic experts as a trigger for broader economic repercussions. - read more

Tue, 17 Jun: Australia's prominent life insurer, TAL, has partnered with the global insurtech firm, Cover Genius, to introduce an innovative 'digital-only', embedded life insurance product. This new solution aims to serve Australian workers such as part-time employees, contractors, and casual staff who often lack access to affordable insurance coverage. - read more

Tue, 17 Jun: Recent findings from a Consumer NZ survey highlight increasing skepticism towards insurers in New Zealand, as affordability remains a significant concern for many. The survey noted that insurance now ranks as the fourth-largest financial pressure among respondents, trailing housing, food, and household debt, marking an upward shift from sixth place last October. This change has negatively impacted the industry's reputation, with more individuals expressing distrust towards insurers. - read more

Mon, 16 Jun: The Australian Financial Complaints Authority (AFCA) has supported Open Insurance's decision to deny a refund to a customer who cancelled his motor policy after being informed that his new rooftop tent installation would breach policy guidelines. The policyholder was advised that any modifications, including a 'slip on camper/tent or camper conversion,' would void coverage, prompting him to cancel his insurance in March. - read more

Mon, 16 Jun: In a triumphant moment for Australian life insurer Acenda, the company secured top honours in four of the ten categories at the Australian Life Underwriting and Claims Association (ALUCA) Life Insurance Excellence Awards. Formerly known as MLC Life Insurance, Acenda emerged as a finalist in nine categories, ultimately winning the Leadership Award, Claims Team Award, Customer Service Team Award, and Partnership Impact Team Award. - read more

Mon, 16 Jun: The Sydney property market showed signs of revival as the latest auction results indicated a resurgence in buyer enthusiasm. Last weekend, the city recorded a preliminary auction clearance rate of 70.5%, marking a notable rebound from the previous week's low of 58.1%. The recent performance also represents Sydney's first clearance rate above 70% in three weeks and only the second instance in the past thirteen weeks. - read more

Fri, 13 Jun: A significant enhancement to superannuation accounts awaits Australians as they gear up for a vital change. This development will have a considerable influence on retirement accounts, surpassing the expectations of many. Commencing July 1, alterations to the Superannuation Guarantee will obligate employers to elevate their contributions to 12 per cent of an employee’s ordinary time earnings, up from the existing 11.5 per cent. - read more

Fri, 13 Jun: The Australian commercial real estate debt market is garnering attention from international investors, with the Canada Pension Plan Investment Board (CPP Investments) making significant inroads. In partnership with Nuveen, a global asset manager, a substantial investment strategy targeting Australian real estate debt has closed its second round. The total commitment exceeded $650 million, with CPP Investments contributing $300 million through their CPPIB Credit Investments Inc. - read more

Thu, 12 Jun: A recent ruling by the Australian Financial Complaints Authority (AFCA) supported Auto & General's decision to deny a motor policyholder's claim after a crash. The decision stemmed from the policyholder's failure to disclose a driving-related good behaviour bond, despite his claims of a learning disability affecting his understanding of the policy's inquiries. - read more

Thu, 12 Jun: The Australian Securities and Investments Commission (ASIC) has issued warnings to 18 social media influencers actively promoting high-risk financial products without the necessary licence. The move is part of a broader initiative to curb unlicensed financial advice in the online sphere, where influencers often lure young audiences with glamorous lifestyles while dispensing questionable investment tips. ASIC has identified these so-called 'finfluencers' as operating in breech of the Corporations Act by promoting complex financial products like derivatives without proper authorisation. - read more

Thu, 12 Jun: Australia's economic landscape recently revealed a surprising trend: households are reducing their spending despite an uptick in incomes. According to the first-quarter national accounts released by the Australian Bureau of Statistics (ABS), real per capita home consumption has declined annually for seven consecutive quarters, with a 2.4% fall from its previous peak. - read more

Thu, 12 Jun: Mark Bouris, the Executive Chairman of Yellow Brick Road Home Loans and a well-known figure in Australian finance, has raised concerns for young Australians amidst ongoing debates over recent superannuation tax changes proposed by the Labor government. He has stated that the proposed changes, which are set to be implemented in July, could put significant financial pressure on future generations. - read more

Thu, 12 Jun: The Australian Bureau of Statistics revealed that as of the first quarter of 2025, the national housing stock value has soared to a staggering $11.366 trillion. This equates to an impressive $1,002,500 per dwelling, positioning the country's housing value at 4.14 times its GDP. Such wealth assessment has placed Australian households among the globe's wealthiest, despite home values offering little financial relief to homeowners who merely need somewhere to reside. - read more