Thursday, July 19, 2018

Tag: FMA

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...

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...

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...

Regulators Reveal Initial Observations on Banks

The RBNZ and the FMA have briefed the Finance and Expenditure Select committee on the Australian Royal Commission (RC) fall-out and the regulators' response...

MBIE Hints at New Regulator For Insurance Industry

MBIE has hinted at its preference for the establishment of a single entity to regulate the NZ financial services sector. Its issues paper stated: “Taken...

Robo-Advice to Channel Business For Human Advisers 

Kiwi Wealth has become the first financial services provider to receive robo-advice approval from the FMA and its GM Customer, Product and Innovation, Joe...

FMA Asks Insurers to Prove Themselves

The FMA has released the letter it has sent to the chief executives of New Zealand’s licensed life insurers, asking them to prove themselves in...

FMA Report Driving ‘Important Conversation’ on Transparency Around Incentives – FSC

The Financial Services Council (FSC) has welcomed the FMA report on soft commissions (see: FMA Targets Soft Dollar Commissions), which has fuelled discussion on...

FMA Raises Concern on Sales-Driven Soft Commissions

The FMA has raised concerns over soft-commissions linked to sales volumes. In its review into soft commissions offered by life and health insurers, the regulator...