March 2018
News in review
What’s made news recently?
- Legislation update
- APRA’s powers increased
- Banking Executive Accountability Regime comes into force
- Government cracks down on credit card practices
- Single financial complaints authority now a reality
- Economic and central bank update
- RBA keeps interest rate at 1.5%
- New Fed chair sworn in
- Industry update
- CFP membership reaches record global high
- Loans and credit cards first up for Royal Commission
- New Payments Platform launches after delay
- Market regulators’ reports and guidance
- ASIC report severely critical of vertical integration.
Learning objectives
After reading this article, you should be able to:
- discuss the current state of the financial services industry
- highlight factors affecting monetary policy
- outline the key legislative reforms from February
- explain ASIC’s findings about vertical integration.
Knowledge areas and accreditation
Knowledge areas: Generic Knowledge (30 minutes/0.5 points), Generic Knowledge — Legal Environment and Compliance (30 minutes/0.5 points).
FPA CPD points 1.0 Dimension: Capability (FPA 009875).
AFA CPD points 1.0 (AFA 01022009).
CPA Australia CPD points 1.0 (CPA 000504).
FBAA CPD points 1.0.
TPB CPE (60 minutes/1.0 point).
SMSF Association CPD points 1.0.