Insurer to Pay $7 Million Penalty for Misleading Representations
General insurer Tower has been ordered to pay a $7 million penalty for misleading representations that resulted in more than $11 million in overcharges...
New Report on Financial Institutions’ Product and Services Reviews
The Financial Markets Authority has released a “thematic review” on how financial institutions, including 10 insurers, conduct reviews of existing products and services.
Executive Director,...
FAP Licence Cancelled Over Serious Conduct Breaches
The FMA cancelling the licence of a FAP over what the regulator describes as serious conduct breaches, including false insurance applications,...
Caution on Over-Reliance on Automated Outputs
The FMA is cautioning advisers that research tools are most effective when used as part of a broader, holistic advice process.
In its latest Financial...
Adviser Numbers on the Rise
The number of financial advisers in New Zealand grew by 8.4% to reach nearly 9,200 in the year to 30 June 2025, according to...
Life Sector Profitability Improved – RBNZ
News from the RBNZ that profitability in the life insurance sector has improved from previously subdued levels, and that the health insurance sector is...
FMA Check-In on Licensed Providers’ Operational Resilience
News that the FMA is undertaking a 'significant survey' looking at the operational resilience of licensed market service providers, including financial...
Fit-for-Purpose Complaints Processes – Your Verdict
The results of our latest poll indicate that a healthy majority of advisers are sure their advice firms’ complaints processes are easily accessible for...
Latest Poll – Fit-for-Purpose Complaint Processes?
Our latest poll is asking advisers to consider whether your firm’s complaints processes are genuinely easily accessible for customers and are fit-for-purpose.
Our question follows...