Philip O'Sullivan’s Post

Fowler is one of the most vibrant and multicultural areas in Australia, with many of us sending financial support to family and friends abroad. Yet, far too often, high fees and poor currency exchange rates mean that we’re not getting the full value of our money. I am working to push for greater transparency from banks and money transfer providers. It's crucial that we see clear and upfront information about fees and exchange rates to make informed decisions and drive down costs. Australians send about $20 billion worth of assistance overseas each year, and we deserve fair, transparent services. It is critical to shed light on this issue.🙏🏽 #MyFowlerCommunity #Fowler #Transparency #MoneyTransfer #TransferFees #DaiLeMP #DaiLeMPFowler #FowlerMP The Sydney Morning Herald Wise

🔗 Join the Conversation: BoE DP and call for input on innovation in money and payments 🔍🌐 The Bank of England has published a significant discussion paper on their approach to innovation in money and payments, covering both wholesale and retail payments (where the government has also confirmed its intention to advance a National Payments Vision). The Bank are inviting input until the end of October, and we plan to respond. If you are interested to engage on relevant topics reach out to Bazil Sansom. #Consultations #GillmoreCentre #Payments #PaymentsInnovation #FutureOfMoney #FutureOfPayments

The CoFI Bill is all about making sure financial institutions in South Africa, like independent financial advisors, really look out for their customers. It's about ensuring that everyone gets a fair deal, from start to finish, and even after they've bought a financial product. The bill is also going to tidy up existing laws, encourage more competition and innovation, and make sure the financial market is fair and efficient. We think CoFI is bringing about positive change to an already professional industry. However, if you're an independent advisor, you may not have the financial means to remain compliant. If you're an independent advisor or small advisory, we'd love to talk to you about how we can partner with you to help you remain abreast of industry changes. Activate to view larger image,

Exciting news from the Bank of England today: the National Payments Vision is back on the agenda, continuing to emphasize fast, secure, and robust payments for all. "HM Treasury has been considering its response to the 2023 Future of Payments Review, which provided recommendations to successfully deliver world-leading payments. The government has now confirmed its intention to take forward a National Payments Vision, and we will engage closely with HM Treasury to meet their ambitions for the UK payments landscape as a whole." https://lnkd.in/eGQ-Em9C

This week's advisers numbers dipped for the first time in recent weeks. Still positive for the year to date. We release our updated super funds statistics by 'Fund' type. It shows that retail funds are fighting back. https://lnkd.in/gJacSVXj #wealthdata #smsf #superannuation #financialadvisers

🏦Exciting Update on the Digital Pound Consultation! 🇬🇧 Hey everyone! 🌟 Remember that Consultation Paper from the Bank of England and HM Treasury about the digital pound? Well, they got flooded with over 50,000 responses! 😲 The interest is real! Many had concerns about cash access, privacy, and money control. But fear not! 🤝 This response is here to assure you that steps are being taken to build trust in the digital pound. 💪 Big news! 📣 The Government is committed to introducing legislation before launching the digital pound. 📜 Your MPs will have a say! 🗳️ Legislation will focus on protecting privacy and money control, as you suggested. 🛡️ Oh, and don't forget about cash! 💸 The Bank, Government, FCA, and PSR will keep safeguarding cash access. 🏧 Because let's face it, cash is still king in many places! Exciting times ahead! 🚀 More chances for you to share thoughts in future consultations. 👥 Your voice matters! Let's keep this national conversation on the future of money going. 💬 Stay tuned for more updates! 📢 #DigitalPound #MoneyTalks #FutureFinance 🌐💳

Why you are probably losing $1.5K a year 😰 And what you can do about it 🤗 Take a look at the AFR´s latest coverage of a pressing issue: your savings! Thanks The Australian Financial Review and Michelle Bowes for your coverage of our White Paper and our Savings Account Scanner 🚀 Links in comments below to access our: 1️⃣ Savings Account Scanner (and set your finances right with our broader Upworth platform)🛰 2️⃣ White Paper, Owning your Savings Accounts, Undoing the Road to Serfdom🗽

The CoFI Bill is all about making sure financial institutions in South Africa, like independent financial advisors, really look out for their customers. It's about ensuring that everyone gets a fair deal, from start to finish, and even after they've bought a financial product. The bill is also going to tidy up existing laws, encourage more competition and innovation, and make sure the financial market is fair and efficient. We think CoFI is bringing about positive change to an already professional industry. However, if you're an independent advisor, you may not have the financial means to remain compliant. If you're an independent advisor or small advisory, we'd love to talk to you about how we can partner with you to help you remain abreast of industry changes.

🇬🇧 Exciting news! An insightful report by Reuters has revealed that top UK lenders might be wound down in a crisis without bailouts, as per the checks by the Bank of England. This is a significant development with potential implications for the financial sector. It's crucial for all of us to stay informed about such important findings. Let's keep a close eye on how this story unfolds. #UKFinance #BankingNews #FinancialRegulation https://ift.tt/vyUi5Ch

Is anyone looking for a good bedtime read? It is the 10th anniversary since The Bank of England published its 'Approach to Resolution'. The absence of a credible resolution regime during the global financial crisis meant that the UK government had to step in, injecting £137 billion of public money to stabilise the financial sector. The Resolution aims to ensure banks and other financial institutions can be allowed to fail in an orderly way. Just like when any other business fails, losses arising from bank failure would be borne in resolution by shareholders and unsecured creditors and not by the general public. As it's evolved over the years to reflect a changing economy, the 'Purple Book' is an interesting read about the UK's banking system and resilience. The document outlines how institutions can fail in an orderly manner or that is the plan? Find the updated document here: https://bit.ly/3u1sukT #BankOfEngland #FinancialSector #Banks