Tuesday, June 25, 2019

Compliance & regulation

Latest Poll – Concerns With the Code 

In our latest poll, we ask whether you support the new Code of Conduct, which was approved by Minister Faafoi last week (see: Minister...

Code Falls Short – Financial Advice NZ

Financial Advice New Zealand has said the newly approved Code of Conduct has lost an opportunity for the sector with inconsistent qualification requirements. It claims...

Poll Results – Commission Cap Possibility Not a Favoured Choice 

It probably comes as no surprise that the results of our latest poll suggest a capping of life insurance commissions would not be a...

FMA Cracks Down on FSPR Abuse 

Morgan DeVere Corporate Finance has been convicted at the Wellington District Court on two counts of breaching the Financial Services Providers Act 2008 (FSP...

Minister Approves Code of Conduct

The Code Working Group has confirmed that the Minister of Commerce and Consumer Affairs, Kris Faafoi, has approved the Code of Conduct on 7...

Suncorp NZ Confident in Strategy for Regulatory Change

Suncorp New Zealand has revealed it has established a specific program of work, to address the issues raised in the FMA/RBNZ conduct and culture...

Aussie Regulator Ultimatum to Insurers on Income Protection

The Australian Prudential Regulatory Authority has sent letters to insurers in which it calls on them to urgently address concerns it has with the...

Latest Poll – Capped Commissions Coming to NZ?

The Government is considering capping up-front life insurance commissions and potentially trail too, as detailed in an options paper for its Conduct of Financial...

Review of Insurance Contract Law Options Paper Released 

  The Government has released an options paper for consultation on its review of insurance contract law. The review aims to: Improve consumer understanding around disclosure...

Pros and Cons of a Commission Cap

In the Government’s recently released options paper on its review of the Conduct of Financial Institutions, (see: Government Considers Capping Commissions…) the pros and...