Advice industry reacts to budget; Expect no let-up in ASIC greenwashing action

The Financial Services Council and Financial Advice Association Australia have welcomed the 2023 budget from Treasurer Jim Chalmers but feel there is a lack of information for advisers.

ASIC is unlikely to slow its pace on greenwashing enforcement, according to deputy chair Karen Chester, or it will run the risk of making Australia a target for misconduct.

With significant action towards sustainable finance announced in the 2023–24 budget, the building blocks are now in place for meaningful change, according to RIAA’s chief executive, Simon O’Connor.

The major bank’s chief economist said the RBA may hike rates further, despite stating he is “worried” the economic slowdown would be sharper than projected in the government’s budget.

There is a real need to remove the language of “woke capitalism” from ESG investment, according to a panel, if there is to be progress in Australia.

HUB24 is expanding its relationship with HR technology platform Striver to extend its range of adviser education resources.

With the recent spate of data breaches now extending to the financial services industry, AFSLs are racing to ensure that their information management procedures are up to scratch, writes Samantha Hills.