Articles tagged with 'FSLAA'
8 December 2021 - Cigna New Zealand has released the first of a series of improvements to help independent financial advisers stay on top of their regulatory obligations.
25 November 2021 - Financial advice firms, insurers, banks and related institutions should prepare now for the impending implementation of CoFI legislation or risk being bogged down by further regulations.
24 November 2021 - The Financial Markets Authority has released three new self-assessment tools to help financial advice providers (FAPs) prepare for full licensing.
21 September 2021 - Adviser traffic on the road to full licencing has built up to a steady flow as individuals and companies look to the future with the Financial Markets Authority so far approving 80 applications.
23 June 2021 - Another milestone in the journey to full licensing has been reached after the deadline for advisers to link themselves to a financial advice provider passed last week.
31 May 2021 - Early concerns were that adviser business values would collapse due to the implementation of the new Financial Services Legislation Amendment Act.
13 May 2021 - The managing director of Strategi Compliance is calling on advisers to use technology to reinvent themselves, in order for the single adviser to remain relevant.
3 May 2021 - MBIE is currently undergoing an industry consultation on whether the CoFI bill should apply to financial advisers, Good Returns digs into the details.
30 April 2021 - New Zealand’s first fully licensed adviser under the new FSLAA regime says that advisers who are ready should go for it.
29 April 2021 - The FMA says just four new licences have been approved and two declined with one application dismissed due to a shoddy cut-and-paste job.
27 April 2021 - MBIE has opened up a second industry consultation on the CoFI bill, which would see financial advisers have two sets of conduct principles to adhere to.
13 April 2021 - One month on from March 15, the FMA has shared a breakdown of the state of financial advice in New Zealand, and by the numbers the industry is looking strong.
2 April 2021 - The world of financial advice changed significantly last month, and maybe more than many people realised.
15 March 2021 - The new licensing regime for financial advisers has arrived, with hopes the changes will drive a new era of professionalism in the sector.
10 March 2021 - NZFSG and Loan Market's Brian Greer said advisers benefited from a "phenomenal surge" in mortgage business last year, and believes the sector is on the brink of its biggest opportunity in decades.
2 March 2021 - A support package has been made available – by industry compliance centre Strategi Group – to advisers whose preparation for regulation change has been impacted by Covid.
15 February 2021 - Research presented at the FSC: Get In Shape events shows that the health of advice is strong and that the industry is largely poised for change.
12 February 2021 - At the FSC: Get In Shape conference, the FMA’s director of market engagement John Botica focused on busting long standing industry myths when addressing advisers.
21 December 2020 - Advisers have been given the fine details of the new financial adviser laws less than three months before they come into force.
26 October 2020 - The FMA are wanting to hear the industry’s thoughts on a proposal to recognise that Australian qualified advisers meet the standards of the new code of conduct.
2 September 2020 - Insurance adviser Jon-Paul Hale says advisers are getting hung up on level five qualifications, when the real issues they should be focusing on are much bigger.
28 August 2020 - New Zealand’s financial services sector raised concerns about disclosure regulations resulting in a larger volume of repetitive disclosure that could be difficult for clients to digest, submissions show.
21 August 2020 - New lockdown restrictions are unlikely to push out the start of the new financial advice regime.
6 July 2020 - New regulations coming into force in the insurance industry and financial advice sector may help avoid situations where people are left exposed by insurance replacement.
25 June 2020 - Tweaks to the disclosure regulations for financial advisers will make the rules more workable, industry participants say.
25 June 2020 - The Government has set new disclosure requirements to ensure that consumers seeking financial advice can make more informed decisions, and said the new financial advice regime will begin on March 15.
17 June 2020 - Four of the proposed full licensing criteria for financial advisers deserve further attention, Financial Advice New Zealand says.
17 June 2020 - Adviser firms will be licensed under FSLAA according to the size and scope of their businesses, it has been revealed.
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.
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.
2 April 2020 - A delayed start for the Financial Services Legislation Amendment Act regime is the right thing to do – but it could be a problem for proactive advice providers who had already started to move their businesses towards licensing, one financial services law expert says.
24 March 2020 - Commerce Minister Kris Faafoi is pushing back the start of the adviser licensing regime.
22 March 2020 - The Government and regulators have dialled back much of their regulatory work at the moment and are now facing pressure to extend the deadline for transitional licensing.
21 February 2020 - Improved industry standards could stabilise insurance premiums under the new financial advisers regulatory regime, according to one industry expert.
15 February 2020 - Commerce Minister Kris Faafoi promised no more big announcements this year, but there are still plenty of issues for financial advisers and the broader industry to tackle.
11 February 2020 - Commerce Minister Kris Faafoi has promised the financial services sector there will be no more big announcements this year.
10 February 2020 - ASB Bank will work with adviser businesses that hold a FAP licence as well as group FAPs under the new regulatory regime.
30 January 2020 - The Financial Markets Authority expects to collect $1.2 million in licensing fee revenue as it works through the process of granting FSLAA licences over the next year, a new document shows.
13 January 2020 - The next couple of months may bring a rush of transitional licence applications, it has been predicted.
10 January 2020 - It's the start of a new year and a new decade. While it's 2020, Philip Macalister looks ahead and makes some predictions around what may happen in the financial advice sector this year.
18 December 2019 - There is a risk that advisers being able to work for more than one financial advice provider could result in consumer confusion or harm, the Ministry of Business, Innovation and Employment (MBIE) says.
11 December 2019 - Advisers face a further wait to discover ASB and Westpac's stance on FAP licensing under the new regulatory regime.
20 November 2019 - The Financial Markets Authority has confirmed the standard conditions it will require of those seeking a transitional financial advice provider (FAP) licence under the new regime.
13 November 2019 - More clarity is needed on when someone counts as a client under the new financial advice regime, Financial Advice New Zealand says.
13 November 2019 - New Zealand could expect to get to as few as 400 financial advice providers by 2030, one training and compliance provider says.
31 October 2019 - Newpark Home Loans general manager Andrew Scott believes some advisers could have a limited choice of lenders under the new regulatory regime. Find out...
31 October 2019 - There are so many options for advisers under the new regime; licensing, coming under a licence, packing it in, or working for a bank or insurer. Jon-Paul Hale says the answer is quite simple.
30 October 2019 - Mortgage advisers could find their selection of available lenders limited by their financial advice provider under the new regulatory regime, Newpark’s Andrew Scott has warned.
21 October 2019 - ANZ has laid out its position on the new regulatory regime, stating it will work with adviser businesses and groups that hold a financial advice provider licence.
20 October 2019 - It’s in insurers’ interests to make sure that advisers are supported through to the new regime, Asteron Life’s executive manager of life distribution, Graham Hill, says.
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.
11 October 2019 - Clients will have to be clearly told what fees they are likely to pay, and what commissions an adviser will receive, under draft disclosure regulations revealed by the Government this week.
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