Australian Former Adviser Jailed
An Australian former financial adviser, Anthony Paul Torre, has been sentenced to six years imprisonment, backdated to commence 29 January 2025. He was sentenced...
Australian Complaints Body Flags ‘Systemic’ Industry Failures
The Australian life insurance sector continues to face systemic weaknesses in record keeping, policy design and claims handling according to the most recent Systemic...
FSCL Appoints Consumer Rights Expert to Board
Financial ombudsman service, Financial Services Complaints Limited, has appointed consumer rights expert Kate Tokeley to its board as a consumer director.
FSCL says Tokeley is...
Complaint Against Adviser Dismissed
Our report on a son’s complaint against his mother’s insurance adviser being dismissed by a financial ombudsman attracted strong reader interest...
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...