Tuesday, June 25, 2019

Compliance & regulation

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...

Government Considers Capping Commissions

The Government is considering the possibility of capping upfront and/or trail commissions for intermediaries of insurers and banks and banning products that lead to...

ASIC Focus on Client Best Interests

For the third consecutive week, Australian regulator ASIC has announced action against advisers over client best interests failures. The latest banning involves two Sydney-based operators...

FMA Updates Adviser FAQs

The Financial Markets Authority has updated the FAQs section of its website, to reflect the questions raised during the recent Financial Services Council summits. Questions...

Compliance Costs, Uncertainty Concerns for Advisers

Increased compliance costs and uncertainty about the future dominate the thoughts of a lot of Kiwi advisers at the moment. As the industry edges closer...

Code Working Group Publishes Submissions 

The Financial Advice Code Working Group has published around 120 submissions it received in response to its consultation document released in October 2018. “We are...

Latest Poll – Dawn of a New Advice Era

The passing of FSLAB into law heralds the beginning of a new financial advice regime in New Zealand, and we're keen to know what...

Passing of FSLAB a ‘Landmark Moment’ – FSC 

The Financial Services Council has welcomed the passing of the Financial Services Legislation Amendment Bill through Parliament as a ‘landmark moment’ for the New...

Adviser Record Keeping Lacking, Warns Compliance Expert

A specialist in compliance for adviser businesses, particularly in risk and investment, says good record keeping practices are lacking among advisers. Adviser Business Compliance (ABC)...