Our latest poll sought to gauge how you as advisers are tracking with the sweep of regulatory change taking place across financial services and the insurance sector.
At the time of writing, the majority of voters (38 percent) said they felt strained but were managing with the regulatory changes, while 30 percent felt more positive (15 percent were never better and 15 percent were optimistic about the future).
A smaller number said they needed more help with the regulatory changes (15 percent) and another 15 per cent intend to leave the industry.
Although our polls never claim to have any scientific validity, it is encouraging that almost 40 percent of voters feel they are managing with regulatory changes they are having to keep track of in 2019 ahead of the new regime coming in force next year and that a further 30 percent say they feel they are more than managing.
The FMA is currently consulting on two proposed standards for transitional licensing ahead of applications for transitional licensing which are expected to open in quarter four this year.
The life insurers have provided their responses to the FMA relating to the regulators’ Life insurer Conduct and Culture report and submissions have now closed for the Government’s Options Paper Conduct of Financial Institutions and the Review of Insurance Contract Law.
Our poll still remains open for another week. Click here if you’d like to add your voice to the conversation…