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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…

COMPLIANCE NEWS – INSURERS

FEBRUARY ISSUE | 2021 Happy New Year.  This month we review the basic requirements of the new financial advice regime that comes into effect in March.  We also provide our general update on relevant legislation. NEW FINANCIAL ADVICE REGIME The new financial advice regime commences…

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…

COMPLIANCE NEWS – INSURERS

SEPTEMBER ISSUE | 2020 This month we look at the Finance and Expenditure Select Committee’s amendments to the Financial Markets (Conduct of Institutions) Amendment Bill, a Court of Appeal decision that clarifies the law on fraudulent claims, a class-action filed against a major Australian bank,…

COMPLIANCE NEWS – INSURERS

AUGUST ISSUE | 2020 This month we look at the enactment of the Privacy Act 2020, the Financial Markets Authority’s (FMA) latest short-term priorities, and changes to the updated FMA levies. We also provide our general update on relevant legislation. PRIVACY ACT 2020 The Privacy…

COMPLIANCE NEWS – INSURERS

JULY ISSUE | 2020 This month we look at disclosure requirements under the new financial advice regime, a Financial Markets Authority (FMA) consultation paper about licensing under the new financial advice regime, FMA proceedings against ANZ, progress with new privacy legislation, and the Reserve Bank…

COMPLIANCE NEWS – INSURERS

JUNE ISSUE | 2020 This  month we look at the FMA’s conduct expectations for insurers during COVID-19, health and safety at COVID-19 Alert Level 2, and the decision to boost the FMA’s funding with increased levies. We also provide our general update on relevant legislation….