In this episode of "Weekly Finance News Wrap," Paige Estritori reports on key developments in the Australian financial services industry. This week, the Australian Securities and Investments Commission (ASIC) introduced a new legislative instrument, known as the ASIC Corporations Instrument 2025/234, to enhance and refine the financial advice landscape. This instrument consolidates three previous ones, streamlining regulatory oversight. Although the Financial Advice Association Australia supports the new development, it also emphasises the need for consumers to understand the difference between general and personal financial advice. The association calls for more consumer education, a sentiment resonating across the industry. ASIC's new regulation maintains certain exemptions for financial service licensees and continues to allow simplified verbal warnings, prompting a greater need for accurate advice communication to clients. As these changes unfold, Financial Services Online commit to keeping you updated.