AIA NZ Admits Misleading Customers – FMA Seeks $700,000 Penalty
Life insurer AIA has admitted making false and/or misleading representations to customers in proceedings brought by the FMA.
The case was filed in the Auckland...
Budgeting Services Organisations Exempt from Regulations
News from Australia that a personal budgeting services firm needed an AFS license prompted RiskinfoNZ to ask the FMA if similar organisations in New...
FMA’s Priorities for the Coming Year
The FMA has released its annual corporate plan outlining the organisation's priorities for the next 12 months.
CEO Rob Everett, who announced in March he...
OnePath Penalised Over Direct Insurance Sales Practices
In Australia, ASIC says OnePath Life is remediating up to $35 million to more than 40,000 customers who were sold life insurance policies over...
FMA Sends Reminder to Social Media ‘Finfluencers’
The FMA is concerned some social media influencers and bloggers are straying into offering regulated financial advice in their comments and posts.
To counter this...
Why Compliance is Not a ‘Black & White’ Issue
A new publication from Strategi Compliance aims to show financial advisers that working under the new regulatory regime is more flexible than many may...
Privacy Breach Notifications Double
The number of privacy breach notifications seen by the Privacy Commissioner nearly doubled in the six months to May.
The commissioner saw a 97% increase...
Hundreds of Advisers Deregistered by Companies Office
More than 600 financial advisers may have left the industry so far this year, according to the government's Companies Office.
Of the estimated 9,000 financial...
FMA Turns its Attention to Full Licensing
Rollout of the new financial advice regime continues with another milestone this month.
As of June 16, all financial advisers should be linked to a...