Articles tagged with 'CoFI'
What does ‘treat fairly’ mean in new conduct law?
17 August 2020 - Russell Hutchinson is a fan of being treated fairly, and thinks we should, of course, treat customers fairly. But how might the fair conduct requirement work in practice?
Win for financial advisers as CoFI tweaked
10 August 2020 - Financial advisers have been granted some leniency under the new Financial Markets (Conduct of Institutions) Amendment Bill.
Industry unites in message to select committee
11 June 2020 - The Finance and Expenditure select committee has heard a “concerted message” from the financial services sector, its chair Deborah Russell says.
CoFI submitters: Slow down
8 June 2020 - New Zealand’s financial services sector has asked for more time to be spent on developing the Conduct of Financial Institutions Bill – and warned there could be unintended consequences of the bill in its current form.
Financial advice commissions not under threat: Faafoi
20 May 2020 - Commerce Minister Kris Faafoi has acknowledged concern at how the Conduct of Financial Institutions Bill (CoFI) will interact with the new financial advice regime – but says he thinks the advice regime is the most appropriate way to regulate financial advice and advisers.
Insurance adviser conduct obligations
6 May 2020 - Steve Wright takes a critical look at the minimum standards of competence, due care, diligence and skill and how it will affect the insurance adviser world.
SiFA: CoFI needs complete rewrite
5 May 2020 - Adviser group SiFA has called for the Financial Markets (Conduct of Institutions) Amendment Bill (CoFI) to be completely rewritten – and warned that, in its current state, it could lead to adviser businesses being turned on their heads “with a stroke of a pen”.
CoFI delay welcomed
24 March 2020 - A decision by Parliament’s Finance and Expenditure Committee to extend the time for submissions on the Financial Markets (Conduct of Institutions) Amendment Bill is a very sensible one, says Financial Advice NZ.
Faafoi reassures advisers about the future
11 February 2020 - Commerce Minister Kris Faafoi has promised the financial services sector there will be no more big announcements this year.
Conduct bill will mean changes for advisers: MBIE
27 January 2020 - New conduct regulations for financial institutions will cause a limited reduction in access to financial advice because a ban or cap on commission has not been recommended, the Ministry of Business, Innovation and Employment says.
Legislation overload 'could have unintended consequences'
15 October 2019 - New rules of conduct for banks and insurers could be bad news for organisations already grappling with the looming implementation of the Financial Services Legislation Amendment Act, one law firm says.
