Articles tagged with 'FSC'
Health Funds Association NZ and Financial Services Council to merge
26 November 2020 - This December will see the two entities merge into a single organisation.
Perception of conflict of interest serious as the real thing
16 November 2020 - Advisers need to be aware not just of conflicts of interest, but also perceived conflicts.
New disclosure regulations 'a big leap for some businesses'
2 November 2020 - Mark Banicevich and David Greenslade speaking at an FSC webinar said that some businesses will need to make big changes to meet new disclosure requirements come March 15.
FSC enjoys a solid year of growth despite challenges
29 October 2020 - The Financial Services Council (FSC) has seen a solid year of member growth and increased revenues, the organisation announced at its 2020 AGM today.
[FSC Conference] The rise of the machines; Robo like a toddler
16 October 2020 - Fintech and robo advice are a theme in our coverage of day three of the FSC conference; plus we report on Kiwi's financial resilience.
FSC finds New Zealanders’ financial resilience shines through tough times
16 October 2020 - The latest research from the FSC shows that despite global challenges, New Zealand financial resilience remains strong.
[FSC Conference] We need to talk about retirement; National MP calls for compulsory super
15 October 2020 - In our coverage of day two of the FSC conference National commerce spokesman Andrew Bayly supports compulsory superannuation; Financial Markets Authority chief executive Rob Everett outlines his expectations and more. Read on.
Full licence provisions to be released by mid-November
15 October 2020 - John Botica told attendees at the FSC Generations conference to expect to see full licensing provisions from the FMA by mid-November.
[FSC Conference] Robertson v Goldsmith; Fixing income protection; RBNZ update
14 October 2020 - Welcome to coverage of the first day of the virtual FSC Conference. With the election looming we have the battle of the men who want to be finance ministers. Also there is an update from the Reserve Bank and calls for changes to income protection.
Income protection: Lessons from over the ditch
13 October 2020 - Representatives of Swiss Re give New Zealand insurance sector advice on how to solve unsustainable income protection losses.
FMA Supervision Insight Report: The good, the bad and the ugly
29 September 2020 - Industry reactions to the FMA’s recent report in light of incoming regulation changes.
FSC offers info hub for advisers
2 September 2020 - The Financial Services Council (FSC) has launched a Professional Advice Knowledge Hub, a place to find ‘how to’ webinars and information on changes facing professional financial advisers under the new Financial Services Regime (FSLAA).
Financial advice makes NZers better off
11 August 2020 - New data shows that New Zealanders with financial advisers are better off and more confident in their financial lives.
RBNZ 'doing its job'
5 June 2020 - There is industry acceptance of Reserve Bank Governor Adrian Orr raising concerns about life insurer insolvency.
FSC: Advisers more important than ever
26 May 2020 - New Zealanders who have a financial adviser are coping much better with the disruption of Covid-19 than the wider population, the Financial Services Council says.
Association CEO joins Trustees Executors board
14 May 2020 - Richard Klipin, the chief executive of the Financial Services Council of New Zealand has joined the board of Trustees Executors. His appointment fills...
$1.5 billion in claims paid, FSC says
12 May 2020 - New Zealand life insurers paid out a total of $1.49 billion in claims in the year to March, the Financial Services Council says.
FSC commits to principles
16 April 2020 - The Financial Services Council says it and its members are committing to five core principles to guide the industry’s response to Covid-19.
FSC questions fossil fuels decision
2 March 2020 - The Financial Services Council has sounded the alarm over the “politicisation” of KiwiSaver.
Scrutiny sows 'seeds of doubt'
23 January 2020 - Scrutiny of New Zealand's life insurance sector puts "seeds of doubt" into consumers' minds, the Financial Services Council says.
Proposed changes should help industry, insurers say
5 December 2019 - New Zealand life insurers are unfazed by proposed changes coming for insurance contract law.
FSC surplus drops
11 November 2019 - The Financial Services Council has reported a significant year-on-year drop in surplus.
Generate launches first non-KiwiSaver Fund
7 October 2019 - Generate is no longer just a KiwiSaver manager as it has now opened a new fund.
Govt not throwing baby out with bathwater: Ballantyne
25 September 2019 - Government moves to introduce conduct licensing for insurers are being welcomed as proof it's taking a sensible approach to reform.
Scrub up or ship out
13 September 2019 - FMA chief executive Rob Everett says don't knock on my door to find out what good conduct is.
FSC KiwiSaver overhaul: Boost access to advice
11 September 2019 - Financial advice could be provided free or at a discount to SuperGold cardholders, or be made tax-deductible, the Financial Services Council has suggested among its package of recommendations to overhaul KiwiSaver.
Kiwis face 'trade-off' buying insurance
11 September 2019 - New Zealanders face an unintended risk trade-off when they assess the value of insurance, new research from the Financial Services Council shows.
The search for young talent starts
31 July 2019 - The Financial Services Council (FSC) has launched an Emerging Leader Programme to help nurture, support and grow talent across the sector.
FSC appoints disciplinary committee
26 July 2019 - The Financial Services Council (FSC) has appointed a disciplinary committee to oversee the application and enforcement of its new code of conduct.
[UPDATED - With FMA comment] Call to ensure efficient advice licensing
1 July 2019 - Government has been warned there will need to be systems in place to ensure that financial adviser licensing costs do not blow out to the same extent that some FMCA market licenses did.
New Zealanders not protecting themselves
11 June 2019 - New research commissioned by the Financial Services Council (FSC) has revealed many New Zealanders are leaving themselves vulnerable.
Association to lobby minister for KiwiSaver changes
31 May 2019 - Financial Advice New Zealand is making a set of KiwiSaver recommendations to Commerce Minister Kris Faafoi in the wake of the 2019 Wellbeing Budget.
FSC and Workplace Savings NZ merge
15 May 2019 - The Financial Services Council is to formally merge with Workplace Savings NZ.
Insurers tackle genetic testing
9 May 2019 - Australia’s Financial Services Council is enacting a moratorium on life insurance genetic test results as a binding standard – and its counterpart in New Zealand says it’s an issue that’s on the agenda here, too.
FSC welcomes Govt consultation
1 May 2019 - The Financial Services Council has acknowledged the progress on the Government’s financial sector culture and conduct reform work programme with the release of two options papers and said it welcomed the opportunity to respond to them.
Code submissions revealed: Industry wanted change
15 April 2019 - Submitters on the draft code of conduct for the financial advice sector took issue with the draft proposed by the working group right from the first code standard.
FSLAB gets final tick
11 April 2019 - The Financial Services Legislation Amendment Bill has been given its final nod.
Faafoi: We don't want to wreck the system
14 March 2019 - Government is committed to cracking down on problematic remuneration incentives for financial advisers but does not want to "wreck" the industry, Commerce Minister Kris Faafoi says.
OPINION: The winds of change can’t be ignored
11 March 2019 - The start of 2019 has been a challenging one for the financial services sector, not only here in New Zealand but also for our neighbours over the Tasman and the world over.
FSC conference launched
18 February 2019 - The 2019 Financial Services Council and Workplace Savings NZ annual conference has been launched, with super earlybird tickets on sale.
Is FSC taking adviser mantle?
14 February 2019 - Is the Financial Services Council dabbling in a space that should be left to financial adviser associations?
Industry ready for regulators' insurance report
17 January 2019 - A Financial Markets Authority and Reserve Bank report into life insurers’ conduct is due at the end of this month – and insurers are bracing for a tougher line than was taken with banks.
Doing nothing 'not an option'
16 January 2019 - Advisers do not need to have a definite plan yet for how they will approach the new legislative regime – but they need to engage with the process, Financial Services Council (FSC) chief executive Richard Klipin says.
Advisers sign on for regulation summit
15 January 2019 - More than 700 financial advisers and industry specialists have signed up to the 2019 Navigating Regulation Advice Summit.
Consilium joins FSC
20 December 2018 - The Financial Services Council has added Consilium New Zealand as its newest member.
Financial services boosting NZ's bottom line
13 December 2018 - New Zealand's financial services sector contributed $13.5 billion to New Zealand's gross domestic product last year, or 6% of the total, research commissioned by the Financial Services Council (FSC) says.
Summits planned to help advisers navigate regulation
11 December 2018 - FSC, FMA and MBIE are getting together in March to offer advisers the chance to learn more about changes happening to the world of financial advice.
FSC quadruples surplus as it regains strength
5 December 2018 - The Financial Services Council (FSC) has bounced back into health in the past year.
FSC: Industry has heard commission concern
30 November 2018 - Insurers have taken note of Reserve Bank criticism of their adviser remuneration structures – but aren’t worried about the scrutiny, the Financial Services Council (FSC) says.
Financial Advice NZ: Focus on outcome, not time it took
10 September 2018 - Financial Advice NZ says the new Financial Services Council code of conduct is a good example of how the industry needs to take responsibility for its own outcomes.
'It feels tacky but everyone else is doing it...'
7 September 2018 - New Zealand consumers still don’t believe that financial services firms operate with their best interests at heart, Financial Markets Authority chief executive Rob Everett says.
Code of conduct launched amid warnings for industry
6 September 2018 - A new code of conduct for the financial services sector has been launched, but the FMA is asking why it took so long to get there.
FSC awards open
31 July 2018 - The FSC is seeking nominations for its annual Financial Services Council and Workplace Savings NZ awards.
nib joins up with FSC
3 April 2018 - Health insurer nib has joined the Financial Services Council. It takes it membership to 33. Seven have joined since February last year. “The continued...
Savers may be better off with govt fund: Treasury
21 December 2017 - Savers would be better off in a government-run KiwiSaver scheme, new data suggests.
KiwiFund could have unfair advantage
18 December 2017 - A Government-run KiwiSaver scheme would have an unfair disadvantage that could push other providers out of business.
KiwiSaver tax breaks mooted
12 December 2017 - Michael Cullen chairing the new government's tax working group could be a boon to the KiwiSaver industry, it has been predicted.
The Wrap: Bill gets yes, PAA gets no
8 December 2017 - We weren’t sure it was going to happen this side of the new year but this week the Financial Services Legislation Amendment Bill had its first reading in Parliament.
Few takers for advice - but retirees rue missed opportunity
7 December 2017 - Many retirees regret not taking financial advice, but it’s not easy to get people who need it to take an interest, data shows.
FSC suffers financial blow but integration on cards
7 December 2017 - Insurers giving up their memberships have hit the Financial Services Council in the pocket.
New board at FSC
17 November 2017 - The Financial Services Council has elected a new board at its recent annual meeting. Chief executive Richard Klipin said the FSC is in good shape financially...
The Wrap: Has FSC launched a pre-emptive strike on the new adviser association?
10 November 2017 - A question on our minds this week is this: Has the Financial Services Council (FSC) launched a pre-emptive strike on the new Financial Advice New Zealand association?
Target on advisers outside associations
7 November 2017 - Advisers who are not members of a professional association risk becoming disengaged or missing out on important information about the upcoming advice regulation overhaul, the Financial Services Council says.
Fisher Funds: Industry should pull together
31 October 2017 - Bruce McLachlan has recently taken over as the Chief Executive of Fisher Funds Management, coming into the role from the Co-Operative Bank.
Transparency, simplicity 'key for insurance growth'
28 September 2017 - More needs to be done to ensure that insurance products and advice are transparent and easy to understand, industry commentators say.
Good Returns' columnist takes out top award
11 September 2017 - The Financial Services Council and Workplace Savings handed out awards to industry leaders and funds at its conference last week. Here are all the winners.
Politicians due to speak at conference
18 August 2017 - Three politicians will speak at this year's Financial Services Council and Workplace Savings NZ conference next month. Finance Minister Steven Joyce, Labour's...
Getting to Know: Peter Neilson
18 August 2017 - Peter Neilson was the chair of the Financial Services Council until insurers quit in revolt over a report into insurance commissions, and was the Associate Minister of Finance during the sharemarket crash. Here, he talks about why advisers should be more like surgeons.
Partners Life profit flat on back of continued growth
1 August 2017 - Partners Life has reported a flat profit for the year to March 31, even though premium revenue has continued to grow.
Getting to Know: Richard Klipin
28 July 2017 - Richard Klipin is tackling the job of rejuvenating the FSC in a period of big change for the industry.
Insurers could do better: FSC
3 July 2017 - Insurers have work to do to better comply with their disclosure requirements, the Financial Services Council says.
FSC launches new awards
19 June 2017 - The Financial Services Council has created four new awards to celebrating success in the financial services industry. The four categories are Rising Star,...
Mark Weaver has died
12 June 2017 - Actuary Mark Weaver has died after a short fight with cancer.
AIA rejoins FSC
8 June 2017 - The Financial Services Council has announced that insurer AIA has rejoined its ranks.
Life-Info founders want industry to take it over
22 May 2017 - The founders of life insurance information website Life-Info.org.nz would like to see the Financial Services Council take it over.
FSC and WSNZ launch joint conference
4 May 2017 - This year's Financial Services Council and Workplace Savings NZ conference will be held in September in Auckland. The two-day conference will be the first...
FSC gets strategy 'reset'
3 May 2017 - The Financial Services Council’s newly revealed strategy is not so much a change as an evolution, its chief executive says.
FSC makes appointments
9 April 2017 - The Financial Services Council has appointed a new head of member services, and a business manager.
FSC welcomes super move
8 March 2017 - The Financial Services Council has described NZ Super eligibility changes proposed this week as "good policy". Chief executive Richard Klipin said increasing...
Partners rejoins FSC
17 February 2017 - Partners Life has rejoined the Financial Services Council after quitting the organisation in 2015 amid the fallout of the Melville Jessup Weaver report
FSC members want to see advisers' value highlighted
3 November 2016 - Insurers are hoping the Financial Services Council will take on a strong advocacy role for advisers as its new chief executive takes control.
FSC wants to work with advisers
21 October 2016 - The Financial Services Council has a clear strategy to connect with advisers, its chairman says.
Klipin takes helm of FSC
20 October 2016 - Former Sovereign distribution boss Richard Klipin has been appointed the new chief executive of the Financial Services Council.
Resigned FSC members rejoin
31 August 2016 - But some insurers yet to pay the invoices sent to them for the next year's membership.
FSC launches income protection information
19 May 2016 - A new website promoting income protection insurance has been launched.
FSC and Workplace Savings get together (sort of)
7 April 2016 - A former Financial Markets Authority manager has been appointed to take over running both the Financial Services Council and Workplace Savings as the two bodies look to work together.
FSC and WSNZ told to grab opportunity
22 February 2016 - Workplace Savings (WSNZ) and the Financial Services Council (FSC) have the perfect chance to work together to provide a better representative body for the financial services sector, a WSNZ councillor says.
FSC boss quits
15 February 2016 - The Financial Service Council's (FSC's) Chief Executive Peter Neilson is stepping down while the organisation considers its future.
Payouts top $1.1 billion again
10 February 2016 - New Zealanders were paid $1.132 billion for personal insurance claims in the year ended December 2015, Financial Services Council (FSC) statistics show.
Sovereign holds on to market top spot
9 February 2016 - Most insurers grew their books in the December 2015 quarter, new data shows.
Cameron: MJW made little difference to FAA options
9 December 2015 - One New Zealand insurance boss says it is a relief that the New Zealand regulator does not look set to follow blindly in the tracks of its Australian counterpart and slash upfront adviser commissions.
New group may replace FSC
25 November 2015 - Work is under way to form a new industry body that would represent life insurers who distribute product via advisers.
'Clear mistakes' in MJW report
24 November 2015 -
Report slams life insurance conflicts of interest
23 November 2015 - The highly-contentious, MJW report into life insurance advisers’ remuneration is out. It has seven key recommendations including slashing commissions and banning overide payments to dealer groups.
Report tore apart FSC
23 November 2015 - A disclaimer on a report issued today by the Financial Services Council shows how divisive it is.
PAA: Mud-slinging damaging the industry
19 November 2015 - Mud-slinging between different factions of the financial services industry is damaging and could harm its reputation, the chairman of the Professional...
PAA offers FSC support
19 November 2015 - Mud-slinging between different factions of the financial services industry is damaging and could harm its reputation, the chairman of the Professional Advisers Association says.
FSC launches income protection campaign
18 November 2015 - The Financial Services Council is launching a new website, MindTheGap.co.nz, to promote income protection insurance to New Zealanders.
Remuneration is not the big problem: Sovereign
17 November 2015 - Sovereign, like other members of the Financial Services Council, disagrees with parts of the controversial MJW report and says the focus for change needs to be around issues other than remuneration.
MJW report deails: Cut soft commission, slash upfronts
17 November 2015 - [EXCLUSIVE] Life insurance advisers would have their commissions slashed under recommendations included in the controversial Melville Jessup Weaver report, Good Returns reveals.
Asteron and Fidelity stick with FSC - for now
13 November 2015 - Asteron and Fidelity Life have both slammed the FSC report on life insurance saying that the authors Melville Jessup Weaver have done a poor job.
The time is up for the FSC
12 November 2015 - [OPINION] The Financial Services Council is dead and its chief executive Peter Neilson should resign.
AIA hands in FSC notice
11 November 2015 - The Financial Services Council's controversial report into life insurance has claimed another scalp with AIA joining Partners Life in resigning its membership.
FSC must fix its own ructions before it can fix industry
4 November 2015 - There probably aren't many people who would want to be in the Financial Services Council's shoes right now.
Major players quit FSC
3 November 2015 - [UPDATED] AMP and Sovereign have confirmed they have resigned from the FSC.
Retirees say pension not enough
1 October 2015 - Almost 80% of retirees say New Zealand Superannuation is insufficient for a comfortable retirement, new research shows.
FSC: KiwiSaver delivering for middle NZ
27 August 2015 - A decision to remove the $1000 incentive for new KiwiSaver members was made on the basis of inaccurate information, the Financial Services Council says.
Advisers offer free service
11 August 2015 - IFA advisers will be manning the phones to provide free advice during Money Week this week, but the association’s chief executive isn’t expecting them to be run off their feet.
FSC: All advisers should be equal
27 July 2015 - The FSC wants RFAs to choose: Operate at the level of AFAs or declare themselves salespeople.
FSC launches commission investigation
24 July 2015 - A “mini-Trowbridge Report” has been commissioned by the Financial Services Council, to investigate sales incentives in New Zealand’s personal insurance industry.
Time running out to get tax credit
17 June 2015 - The FSC is reminding KiwiSaver members they have less than a fortnight to top up their accounts to get the maximum member tax credit this year.
FSC replaces Shipley
4 June 2015 - The Financial Services Council has replaced former PM Jenny Shipley as its chair.
Give tax break to retirement income products: Stewart
4 May 2015 - A special tax rate within the PIE regime for investors who convert some of their retirement lump sums to an income product would be more effective than compulsion in New Zealand, it has been claimed.
