Thursday, July 19, 2018

Compliance & regulation

Less Than Half of Kiwis Aware of FMA

Around four in ten (41%) New Zealanders are aware of the Financial Markets Authority (FMA), a recent report released by the regulator has found. The report...

Linking Life Events With Provision of Advice

The idea to tie life events more strongly to certain forms of advice was put forward at the Financial Services Council’s Breakfast event ‘Advice...

CWG Working Towards Consultation on Draft Standards 

The Financial Advice Code Working Group has received 160 submissions, since it released its consultation document for the new Code of Conduct in March, it...

New Adviser Commission Model Proposed 

Two industry leaders have created a new remuneration model concept for insurance advisers and confirmed they have conducted initial discussions with the Financial Markets...

Unregistered Adviser Sentenced Following Guilty Plea

An insurance adviser who operated in the South Island has received his sentence at the Christchurch District Court, after he plead guilty to two...

Aussie Regulator Commences Legal Action Against AMP Over Life Insurance ‘Rewriting’

Australia's corporate regulator, ASIC, has begun court proceedings against AMP Financial Planning (AMPFP) alleging some of its advisers engaged in conduct to rewrite life-insurance...

Regulators to Visit Insurers, Banks Following Submissions

The Reserve Bank and Financial Markets Authority (FMA) have confirmed they will conduct on-site visits to the life companies and banks, as part of...

Risk Commissions Poll Results

The results of our latest poll suggest most Kiwi advisers are comfortable with their current commission arrangements - but the sentiment is not universal. As...

Pull Your Heads Out of the Sand, Warns FMA

FMA Chief, Rob Everett, says he hopes the banking and life insurance sectors have pulled their collective heads out of the sand when it...

More Fallout From Aussie Royal Commission

Turmoil in the Australian financial advice sector continues, with news over the weekend that a top-ten advice licensee has closed its doors. Non-aligned financial advice...