In this week's Financial Services Online news, Australia's finance sector is in focus. The Reserve Bank's upcoming meeting is anticipated for its implications on inflation rates, potentially exceeding 3.1% due to rising electricity and housing costs. The bank's decisions may be delayed till November due to recent data. Meanwhile, a reported 19% jump in business defaults, affecting primarily Western Sydney and southeast Queensland small businesses, raises concerns. The Australian Securities and Investments Commission (ASIC) is advocating for improved standards in the private credit market, targeting issues including transparency and conflicts of interest. Detailed findings are expected in November. There's increased concern for retail investors venturing into private credit markets without necessary protections, leading to calls for better comprehension of advisory processes, additional oversight, and transparency. As a response, La Trobe Financial has pledged to adhere to improved practices.n