In this episode of Financial Services Online, Paige Estritori discusses key developments in Australia's financial services. Issues with defective Iplex's Pro-fit Typlex 1050 plumbing systems are causing stress for property owners, and impacting insurers and the property market. Insufficient coverage from insurers RAC and QBE have lead experts to call for pre-purchase plumbing inspections and increased regulation. Other topics include sweeping changes in the financial advisory sector imposed by the ASIC, requiring detailed record keeping, and a rise in local stock investments among Gen Z Australians. Additionally, Westpac has discontinued cardless ATM withdrawals to prevent unauthorized access and ensure customer security. The episode underscores the need for ongoing vigilance in a rapidly evolving financial landscape. For more updates, visit financialservicesonline.com.au.
