Thursday, August 6, 2020

Compliance & regulation

Insurers Criticised Over Life Code Obligations

A number of Australian insurers, including the larger life companies, have been asked to strengthen their commitment to the Life Insurance Code of Practice,...

Call For Transitional Licence Applications

The FMA is encouraging financial advisers to apply for their transitional licences by the end of the year, as the Government announces final details...

Date Announced For New Financial Advice Regime

MBIE says the start of the new financial advice regime will be 15 March 2021. This is the revised date following the delay from the...

Sale Of AMP Life Gets Green Light

The Reserve Bank has finally approved the sale of AMP Life to Resolution Life New Zealand, on condition a trust is created to protect...

Transitional Licence Applications Latest

The FMA says the total number of transitional licences approved or under assessment by the industry regulator to date stands at 846. Within that figure...

Cost-Benefit Of Having Own FAP Licence

Compliance and consulting services company Strategi has published its take of the FMA's proposed FAP licencing regime and says the cost of an adviser...

Three Adviser Licence Classes Welcomed By FANZ

Financial Advice New Zealand has welcomed the FMA's idea of having three classes of licence for financial advice providers (see: FMA Announces Three Classes...

FMA Consults On Full Licence Standard Conditions

The FMA has opened consultation on the proposed full licence standard conditions for financial advice providers as part of the new financial advice regime. John...

Call For Australian Regulator To Stop ‘Fee Gouging’

The Financial Planning Association of Australia (FPA) has urged the Australian Securities and Investments Commission (ASIC) to reconsider a 38 percent increase to its...