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

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

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 

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

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

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

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

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

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

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 

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

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

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

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

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

IMF calls for FMA to immediately fill cracks in the system so 'all aspects of the insurance product life cycle' are regulated