ASIC Commissioner Alan Kirkland highlighted that excluding financial services from these reforms risks creating regulatory gaps and leaving consumers vulnerable. He pointed out that the complexity and risk inherent in financial products make the sector particularly susceptible to unfair practices. Additionally, the rise of digital financial services and the use of manipulative 'dark patterns' in online platforms have exacerbated these concerns.
For our audience, which includes individuals and small business owners, this development is crucial. It addresses common pain points such as the difficulty in comparing financial products online and concerns about the security of online financial transactions. By advocating for a unified approach to combat unfair practices, ASIC aims to create a more transparent and fair financial environment.
Staying informed about these regulatory changes and understanding your rights as a consumer can empower you to make better financial decisions. Utilizing resources like comprehensive financial calculators and seeking personalized financial advice can further aid in navigating the complexities of the financial services landscape.
Published: Saturday 27th December, 2025
Please Note: If this information affects you or is relevant to your circumstances, seek advice from a licensed professional.
