Suncorp NZ Confident in Strategy for Regulatory Change
Suncorp New Zealand has revealed it has established a specific program of work, to address the issues raised in the FMA/RBNZ conduct and culture...
Aussie Regulator Ultimatum to Insurers on Income Protection
The Australian Prudential Regulatory Authority has sent letters to insurers in which it calls on them to urgently address concerns it has with the...
Latest Poll – Capped Commissions Coming to NZ?
The Government is considering capping up-front life insurance commissions and potentially trail too, as detailed in an options paper for its Conduct of Financial...
Review of Insurance Contract Law Options Paper Released
The Government has released an options paper for consultation on its review of insurance contract law.
The review aims to:
Improve consumer understanding around disclosure...
Pros and Cons of a Commission Cap
In the Government’s recently released options paper on its review of the Conduct of Financial Institutions, (see: Government Considers Capping Commissions…) the pros and...
Government Considers Capping Commissions
The Government is considering the possibility of capping upfront and/or trail commissions for intermediaries of insurers and banks and banning products that lead to...
ASIC Focus on Client Best Interests
For the third consecutive week, Australian regulator ASIC has announced action against advisers over client best interests failures.
The latest banning involves two Sydney-based operators...
FMA Updates Adviser FAQs
The Financial Markets Authority has updated the FAQs section of its website, to reflect the questions raised during the recent Financial Services Council summits.
Questions...
Compliance Costs, Uncertainty Concerns for Advisers
Increased compliance costs and uncertainty about the future dominate the thoughts of a lot of Kiwi advisers at the moment.
As the industry edges closer...