Tuesday, July 23, 2019

Tag: RBNZ

AMP Life Sale Uncertainty

AMP Limited has revealed that the transaction for the sale of AMP Life (the Australian and New Zealand wealth protection and mature businesses) to...

Reserve Bank Embraces the Future

Reserve Bank Governor, Adrian Orr, spoke on the future outlook of the Bank to the Financial Services Institute of Australasia (FINSIA) in Auckland recently. “This is...

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...

News in Brief

FMA Update on Conduct and Culture Review  The Reserve Bank of New Zealand and the FMA have confirmed that all 11 banks involved in their...

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...