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Financial Advisers Act

Commerce and Consumer Affairs Minister Kris Faafoi disappointed life and health insurers spent $34m on soft commissions in two years, but won't commit to banning them
17th May 18, 10:59am
by Jenée Tibshraeny
16
Commerce and Consumer Affairs Minister Kris Faafoi disappointed life and health insurers spent $34m on soft commissions in two years, but won't commit to banning them
Life and health insurers spend 9% of their sales revenue on soft commissions for the advisers who sell their products; FMA warns of conflicts of interest
16th May 18, 3:00pm
by Jenée Tibshraeny
23
Life and health insurers spend 9% of their sales revenue on soft commissions for the advisers who sell their products; FMA warns of conflicts of interest
Schemes that deal with complaints people make about their financial service providers urge the Government not to go too far in making them report all the misconduct they see to regulators 
11th May 18, 5:00am
by Jenée Tibshraeny
1
Schemes that deal with complaints people make about their financial service providers urge the Government not to go too far in making them report all the misconduct they see to regulators 
Questions raised over NZ's financial services consumer dispute resolution model with the four competing schemes incentivised to sell themselves to the industry
9th May 18, 4:03pm
by Jenée Tibshraeny
2
Questions raised over NZ's financial services consumer dispute resolution model with the four competing schemes incentivised to sell themselves to the industry
Govt seeks feedback on what tough disclosure requirements to curb conflicted advice should look like in the absence of a ban of commissions
11th Apr 18, 8:16am
by Jenée Tibshraeny
19
Govt seeks feedback on what tough disclosure requirements to curb conflicted advice should look like in the absence of a ban of commissions
FMA sounds alarm bells over commissions paid to financial advisers, but stops short of lobbying the Government to regulate these; says it first wants to try proposals before Parliament to tighten rules around conduct
22nd Mar 18, 1:17pm
by Jenée Tibshraeny
4
FMA sounds alarm bells over commissions paid to financial advisers, but stops short of lobbying the Government to regulate these; says it first wants to try proposals before Parliament to tighten rules around conduct
The newly-minted Commerce and Consumer Affairs Minister commits to championing open banking, capping payday lenders' interest rates, and writing a code of conduct for the supermarket industry
4th Nov 17, 7:30am
by Jenée Tibshraeny
26
The newly-minted Commerce and Consumer Affairs Minister commits to championing open banking, capping payday lenders' interest rates, and writing a code of conduct for the supermarket industry
FMA fast-tracks access to robo-advice at a rate slower than expected; Prioritises greater oversight at the expense of more red tape
18th Oct 17, 7:25am
by Jenée Tibshraeny
1
FMA fast-tracks access to robo-advice at a rate slower than expected; Prioritises greater oversight at the expense of more red tape
Sovereign customers warned AIA takeover could give incentivised advisers an in to encourage them to switch policies
29th Sep 17, 9:15am
by Jenée Tibshraeny
Sovereign customers warned AIA takeover could give incentivised advisers an in to encourage them to switch policies
Consumer credit contract providers celebrate successfully lobbying the Government to exempt them from new financial advice regulation 
11th Aug 17, 9:32am
by Jenée Tibshraeny
1
Consumer credit contract providers celebrate successfully lobbying the Government to exempt them from new financial advice regulation 
Commerce and Consumer Affairs Minister ready to introduce to Parliament new legislation regulating financial advice
3rd Aug 17, 12:03pm
by Jenée Tibshraeny
1
Commerce and Consumer Affairs Minister ready to introduce to Parliament new legislation regulating financial advice
Commerce and Consumer Affairs Minister dubs FMA's plan to fast-track the legalisation of robo-advice 'quite edgy' despite only learning what Blockchain is 6 weeks ago
31st Jul 17, 3:30pm
by Jenée Tibshraeny
Commerce and Consumer Affairs Minister dubs FMA's plan to fast-track the legalisation of robo-advice 'quite edgy' despite only learning what Blockchain is 6 weeks ago
FMA keen to see personalised robo-advice enabled in New Zealand sooner than the law would otherwise allow
21st Jun 17, 4:04pm
by Jenée Tibshraeny
1
FMA keen to see personalised robo-advice enabled in New Zealand sooner than the law would otherwise allow
Less 'would you like fries with that' and more 'needs-based conversations' expected from ANZ staff, as bank changes its remuneration structure
16th Jun 17, 12:04pm
by Jenée Tibshraeny
8
Less 'would you like fries with that' and more 'needs-based conversations' expected from ANZ staff, as bank changes its remuneration structure
IMF calls for FMA to immediately fill cracks in the system so 'all aspects of the insurance product life cycle' are regulated
10th May 17, 10:12am
by Jenée Tibshraeny
IMF calls for FMA to immediately fill cracks in the system so 'all aspects of the insurance product life cycle' are regulated
Major Aussie banks move quickly to act on recommendations they change how they pay retail banking staff, NZ banks 'support customer first obligations'
20th Apr 17, 9:36am
Major Aussie banks move quickly to act on recommendations they change how they pay retail banking staff, NZ banks 'support customer first obligations'
FMA criticised for compromising quality by trying to increase the quantity of KiwiSaver advice on offer
8th Mar 17, 7:38am
by Jenée Tibshraeny
3
FMA criticised for compromising quality by trying to increase the quantity of KiwiSaver advice on offer
Financial advisers' disclosure requirements to be dealt with by regulation not legislation; Govt seeks to remain flexible on the matter
20th Feb 17, 4:12pm
by Jenée Tibshraeny
Financial advisers' disclosure requirements to be dealt with by regulation not legislation; Govt seeks to remain flexible on the matter
Diane Maxwell on protecting retirees vulnerable due to renting, isolation, and not being able to recoup investment losses
5th Oct 16, 12:51pm
by Jenée Tibshraeny
127
Diane Maxwell on protecting retirees vulnerable due to renting, isolation, and not being able to recoup investment losses
Sovereign boss suggests the reviewed Financial Advisers Act could spark the creation of large multidisciplinary financial advice firms
14th Jul 16, 8:59am
by Jenée Tibshraeny
5
Sovereign boss suggests the reviewed Financial Advisers Act could spark the creation of large multidisciplinary financial advice firms
Reviewed Financial Advisers Act to see consumers' interests put first, disclosure requirements beefed up, adviser categories simplified, and the path paved for robo-advice
13th Jul 16, 5:00am
by Jenée Tibshraeny
7
Reviewed Financial Advisers Act to see consumers' interests put first, disclosure requirements beefed up, adviser categories simplified, and the path paved for robo-advice
Churn, trips to Vegas, and high upfront commissions in the life insurance sector, but what about the banking sector?
6th Jul 16, 2:02pm
by Jenée Tibshraeny
Churn, trips to Vegas, and high upfront commissions in the life insurance sector, but what about the banking sector?
FMA warns commissions paid to financial advisers risk bumping up the price of life insurance; Goldsmith remains adamant commissions won't be banned
29th Jun 16, 11:36am
by Jenée Tibshraeny
7
FMA warns commissions paid to financial advisers risk bumping up the price of life insurance; Goldsmith remains adamant commissions won't be banned
Retirement Commissioner red flags lack of financial products aimed at helping retirees convert savings into income
31st May 16, 8:31am
by Jenée Tibshraeny
38
Retirement Commissioner red flags lack of financial products aimed at helping retirees convert savings into income
NZIER says there's a business case for insurers to walk away from commission-based distribution models
13th May 16, 7:03am
by Jenée Tibshraeny
2
NZIER says there's a business case for insurers to walk away from commission-based distribution models