Monday, October 14, 2019

Breaking

Government Announces Conduct Licensing Regime for Insurers and Banks

The Government has announced a new regime to regulate financial conduct, which it says will make banks and insurers treat their customers fairly. Commerce and...

FSLAB Passed

The Financial Services Legislation Amendment Bill passed through Parliament yesterday afternoon. Commerce and Consumer Affairs Minister, Kris Faafoi, said, "The changes we will now put in...

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...

AMP Sale Update

Financial advisers will no longer be able to offer AMP life insurance policies to clients after the insurer confirmed its risk book would eventually...

AMP New Zealand Sold

AMP will sell its Australian and New Zealand wealth protection and mature businesses to international insurance and reinsurance group, Resolution Life Group Holdings. The A$3.3...

Draft Code of Conduct Released, Consultation Opens

Consultation is now open on the draft code of professional conduct, released by the Code Working Group today. Code Working Group Chair, Angus Dale-Jones, says the Group...

ANZ New Zealand Sells Life Arm

ANZ New Zealand has announced the sale of OnePath Life NZ Ltd to Cigna Corporation for $700 million. The bank said in a statement that...

FMA Targets Soft Dollar Commissions

The Financial Markets Authority (FMA) has voiced its concern about the influence that soft commissions have on advisers’ behaviour, in a review into the...

New CEO Announced For Financial Advice New Zealand 

Financial Advice New Zealand has revealed its new Chief Executive. Katrina Shanks will lead the new association, commencing her role on 5 June 2018. Financial Advice...