How are you tracking as a risk adviser in 2019?
- Strained but managing with regulatory changes (38%)
- Never better! (15%)
- Optimistic about the future (15%)
- Need more help with regulatory changes (15%)
- Going to leave the industry (15%)
With another consultation paper recently released to the industry in the form of the FMA’s two proposed standards for transitional licensing (see: FMA Consults…), our latest poll seeks to gain a picture of how you, as risk advisers, are tracking right now in the current environment and with many different aspects of the financial services sector under examination.
To recap the consultations and reviews currently underway:
- FMA Consultation on Standard Conditions for Transitional Licensing – Submissions due 26 July
- FMA Life insurer Conduct and Culture report – Life insurers were required to provide their responses to the regulator by 30 June
- Government Options Paper Conduct of Financial Institutions – Submissions closed on 7 June
- The Review of Insurance Contract Law – Submissions closed on 28 June
The new regime is set to come into effect in June 2020 and applications for transitional licensing are expected to open in quarter four this year.
Click here to view MBIE’s latest updated timeline on the new regime.
How are you finding keeping track of all the changes in your industry alongside running your business? Are you feeling optimistic about your future in financial services or do you have reservations about leading or being part of an advice business under the new regime? Let us know your opinion in the poll above and we’ll report back to you next week…