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COMPLIANCE NEWS – INSURERS

SEPTEMBER ISSUE | 2021 Reserve Bank seeking consultation on insurance policy security consultation As part of the Insurance (Prudential Supervision) Act (IPSA) review currently in progress, the Reserve Bank is seeking consultation on whether the current legislation adequately protects policy holders. The consultation paper includes…

COMPLIANCE NEWS – INSURERS

AUGUST ISSUE | 2021 Reserve Bank consults on Interim Insurance Solvency Standard The Reserve Bank of New Zealand has begun consultation on an interim solvency standards for insurers (the Interim Standard).  The Interim Standard implements the upcoming changes to accounting rules created by IFRS 17…

COMPLIANCE NEWS – INSURERS

JULY ISSUE | 2021 This month we look at the Financial Markets (Conduct of Institutions) and Holidays Increasing Sick Leave Amendment Bills and the New National Disaster Response Insurance Scheme. We also provide our general update on relevant legislation. FINANCIAL MARKETS (CONDUCT OF INSTITUTIONS) AMENDMENT…

NEW TRUSTS ACT

There is a Trusts Act 2019 which comes into force on 30 January 2021 and will affect the administration of Trusts in New Zealand. If you are a trustee, your duties to beneficiaries are changed by the new Act.  You need to be aware of…

COMPLIANCE NEWS – INSURERS

DECEMBER ISSUE | 2020 This month we look at Reserve Bank consultation documents for the Insurance (Prudential Supervision) Act 2010 and the Insurance Solvency Standards, standard conditions for financial advice provider licences, and the commencement of the Privacy Act 2020. We also provide our general…

COMPLIANCE NEWS – INSURERS

NOVEMBER ISSUE | 2020 This month we look at the Reserve Bank of New Zealand’s two relaunched reviews, a Financial Markets Authority Consultation Paper on Australian adviser qualifications, and the Office of the Privacy Commissioner’s new “NotifyUs” privacy breach tool. We also provide our general…

COMPLIANCE NEWS – INSURERS

OCTOBER ISSUE | 2020 This month we look at the resumption of the Reserve Bank’s review of the Insurance (Prudential Supervision) Act 2010 and the Financial Markets Authority’s Supervisions Insights Report. We also provide our general update on relevant legislation. INSURANCE (PRUDENTIAL SUPERVISION) ACT 2010…