Sunday, February 24, 2019

Compliance & regulation

FSLAB Select Committee Report Missed the Mark, Says Financial Advice NZ

Financial Advice New Zealand CEO, Katrina Shanks, has urged the Government to take another look at the proposed changes to the Financial Services Legislation Amendment...

Insurers Debate on Suitability of ‘Good Advice Outcomes’ 

Submissions received by the Financial Advice Code Working Group (CWG) have questioned the use of the terminology ‘good advice outcomes’, contained within one of...

FMA Targets QFE Advice Quality

QFE insurance providers appear to be considering their own risks ahead of their customers when it comes to replacement business, the Financial Markets Authority...

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...