Wednesday, February 26, 2020

Breaking

Financial Advice NZ Defends Risk Commissions

Financial Advice NZ has hit back at criticism by a consumer group for suggesting life insurance advisers knowingly persuade clients to change policies just...

Majority of The Population Underinsured

More than half the people of New Zealand avoid thinking about buying insurance according to a survey by the Financial Services Council (FSC) which...

3,000+ Advisers Exit Major Aussie Institutions – New Report

Major regulatory action post the Australian Royal Commission, combined with strategic exits by major banks along with a 50 percent increase in exits from...

Government Introduces Conduct Bill 

The Government introduced the Financial Markets (Conduct of Institutions) Amendment Bill yesterday. The Bill aims to improve the conduct of banks, insurers and other financial...

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...