In today's Financial Services News Wrap, host Paige Estritori discusses hot topics in the Australian financial sector. First, a local Sydney business's insurance claim denial after event cancellation underscores the complexities of business interruption coverage. Australian financial advisors are grappling with tax implications of Division 296's proposal of a 15% tax on superannuation earnings exceeding $3 million. The Australian Securities and Investments Commission issues warnings to superannuation trustees, following the Falcon Capital and Keystone Asset Management scandal, indicating a potential overhaul in regulations. In consumer news, deceptive sales practices surface in the solar industry, with the Australian Competition and Consumer Commission demanding revision of laws related to unsolicited sales. Stay tuned for more updates from Financial Services Online.
