Financial Advisers Act

17 May 18, 10:59am
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
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16 May 18, 3:00pm
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
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11 May 18, 5:00am
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 
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9 May 18, 4:03pm
Questions raised over NZ's financial services consumer dispute resolution model with the four competing schemes incentivised to sell themselves to the industry
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11 Apr 18, 8:16am
Govt seeks feedback on what tough disclosure requirements to curb conflicted advice should look like in the absence of a ban of commissions
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22 Mar 18, 1:17pm
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
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4 Nov 17, 7:30am
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
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18 Oct 17, 7:25am
FMA fast-tracks access to robo-advice at a rate slower than expected; Prioritises greater oversight at the expense of more red tape
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29 Sep 17, 9:15am
Sovereign customers warned AIA takeover could give incentivised advisers an in to encourage them to switch policies
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11 Aug 17, 9:32am
Consumer credit contract providers celebrate successfully lobbying the Government to exempt them from new financial advice regulation 
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3 Aug 17, 12:03pm
Commerce and Consumer Affairs Minister ready to introduce to Parliament new legislation regulating financial advice
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31 Jul 17, 3:30pm
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
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21 Jun 17, 4:04pm
FMA keen to see personalised robo-advice enabled in New Zealand sooner than the law would otherwise allow
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16 Jun 17, 12:04pm
Less 'would you like fries with that' and more 'needs-based conversations' expected from ANZ staff, as bank changes its remuneration structure
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10 May 17, 10:12am
IMF calls for FMA to immediately fill cracks in the system so 'all aspects of the insurance product life cycle' are regulated
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20 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'
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8 Mar 17, 7:38am
FMA criticised for compromising quality by trying to increase the quantity of KiwiSaver advice on offer
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20 Feb 17, 4:12pm
Financial advisers' disclosure requirements to be dealt with by regulation not legislation; Govt seeks to remain flexible on the matter
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5 Oct 16, 12:51pm
Diane Maxwell on protecting retirees vulnerable due to renting, isolation, and not being able to recoup investment losses
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14 Jul 16, 8:59am
Sovereign boss suggests the reviewed Financial Advisers Act could spark the creation of large multidisciplinary financial advice firms
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