Regulators Reveal Initial Observations on Banks
The RBNZ and the FMA have briefed the Finance and Expenditure Select committee on the Australian Royal Commission (RC) fall-out and the regulators' response...
Focus on Client Costs – Not Commissions, Says New Body
Financial Advice New Zealand recently submitted its response to MBIE on the recent disclosure consultation paper (see: MBIE Seeking Feedback…).
In it, the new body...
MBIE Hints at New Regulator For Insurance Industry
MBIE has hinted at its preference for the establishment of a single entity to regulate the NZ financial services sector.
Its issues paper stated: “Taken...
Australian Regulator Says Removal of Commissions Would End Conflicts of Interest
Australia's corporate regulator, the Australian Securities and Investments Commission (ASIC), has thrown its weight behind the total removal of conflicted remuneration, including commissions, stating there...
FMA Asks Insurers to Prove Themselves
The FMA has released the letter it has sent to the chief executives of New Zealand’s licensed life insurers, asking them to prove themselves in...
Advisers Support Royal Commission
More than half the Kiwi adviser community thinks a Royal Commission should be convened to investigate NZ's banking and financial services sector.
This is the...
FMA Raises Concern on Sales-Driven Soft Commissions
The FMA has raised concerns over soft-commissions linked to sales volumes.
In its review into soft commissions offered by life and health insurers, the regulator...
“New Zealand’s Insurance Law is Outdated” Says Minister
Public consultation on New Zealand’s insurance contract law has begun, Commerce and Consumer Affairs Minister, Kris Faafoi, has announced.
The Minister said a key consideration...
FMA Targets Soft Dollar Commissions
The Financial Markets Authority (FMA) has voiced its concern about the influence that soft commissions have on advisers’ behaviour, in a review into the...