Wednesday, February 20, 2019

Tag: RBNZ

Industry Needs to Deliver on Ensuring Product Suitability – Hutchinson 

Chatswood Consulting’s Russell Hutchinson says a conversation between regulators and industry is needed to determine what systems and controls are required to ensure suitability...

NZ Government Looking Closely at Australian Royal Commission Final Report 

The New Zealand Government has announced it will scrutinise the outcomes of the Australian Royal Commission to see if the recommendations should be implemented...

Complaints Provide Insight to Improve Conduct – IFSO

Insurance & Financial Services Ombudsman, Karen Stevens, says the complaints that the IFSO Scheme receives can help insurers and financial advisers with industry change,...

Government Pledges to “Get Rid of Sales Incentives”

The Government has declared that sales incentives no longer have a place in the life insurance sector. Shortly after the RBNZ and FMA published their...

NZ Insurers Need to Look Closer at Australian Royal Commission, Regulators Warn

Another message included in the RBNZ and FMA’s joint report on life insurers’ conduct and culture (click here), is for New Zealand life insurers to...

Report Calls Out High Commissions For Advisers

The high rate of commissions for New Zealand advisers has been a focal point in the RBNZ and FMA’s recently released report of life...

Regulators Life Insurance Report “Shows the Life Insurance Sector in a Poor Light”

The Reserve Bank of New Zealand (RBNZ) and the Financial Markets Authority (FMA) have published their Life Insurer Conduct and Culture Report. The joint review...

FMA Calls For More Power Over Bank Conduct 

The Financial Markets Authority has called on the Government to address certain ‘gaps’ in the framework for regulation of banks. In the recently released report...

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...