Articles tagged with 'compliance'
Director Support Programme
4 April 2022 - Directors are facing more scrutiny as part of the FAP Licensing guidelines released by the FMA.
Codes must have consequences
9 November 2021 - Codes of conduct are useless unless they are driven from the top down and must have consequences if broken if they are to mean anything.
Everett fires back at Drylie
5 November 2021 - The former head of the Financial Markets Authority (FMA) says he has little sympathy for complaints that banks are being strangled in red tape.
AML firm raises $30 mill
2 November 2021 - Anti-money laundering compliance firm First AML has raised $30 million.
New accounting standards = more costs for insurers
1 November 2021 - Kiwi insurers are set to face more compliance costs when the latest international-level accounting standards come into effect at the end of this year.
Competency standards - to move forward, start at the finish
29 October 2021 - Professional competency is a career-long journey and if financial advisers can't cope with minimum standards, then it's probably not the path they should be taking.
REINZ want healthy homes deadline extended
18 October 2021 - A 90-day extension on the timeframe for Healthy Homes compliance has been called for by REINZ.
TSB fined $3.5m for anti-money laundering act breaches
31 August 2021 - The High Court at Wellington has fined TSB Bank Ltd $3.5 million after the bank admitted to four breaches of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act).
FMA report slams insurers
22 July 2021 - The FMA has fired serious warning shots at the general insurance industry saying it is not prepared for new legislation requiring them to ensure good conduct and fair treatment of customers.
FMA focus - Money laundering, cybercrime, disclosure and more
20 July 2021 - The Financial Markets Authority (FMA) has its work cut out for it over the next 12 months dealing with a range of issues from insider trading, false advertising and the CoFI Bill to cybercrime, KiwiSaver and compliance.
Compliance Refinery expands
16 July 2021 - The Compliance Refinery is expanding its workforce and has taken on an experienced adviser advocate with more hires on the horizon.
New advice rules more flexible than advisers think
25 June 2021 - A new guidance note from Strategi Compliance aims to show financial advice professionals that compliance under the new financial advice regime is more flexible than many believe.
National criticises new conduct bill
11 June 2021 - The new bill to regulate conduct of financial institutions started its second reading in Parliament yesterday and was immediately criticised by the National Party.
Looking forward to full licensing - but don't wait too long
9 June 2021 - Don't leave it up to your FAP, if you haven't been linked make sure they know because there are only five working days left before deregistration begins.
PI insurance costs soar
4 June 2021 - NZFSG advisers face professional indemnity insurance costs of $2500-$4100 each in the next year, as premiums soar under the new regulatory regime: [READ...
PI insurance costs soar
4 June 2021 - NZFSG advisers face professional indemnity insurance costs of $2,500-$4,100 each in the next year, as premiums soar under the new regulatory regime.
Adviser burnout – what to do if it hits you
27 May 2021 - Recent research out of Australia shows that work stress has caused over 40% of advisers to consider leaving the industry. Compliance experts weigh in on how to deal with burnout.
Single-adviser FAPs need to ‘reinvent the way they give advice’
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.
The death of the single adviser FAP
6 May 2021 - Consultant Tony Vidler says we might be seeing the death of the single adviser FAP.
Keeping compliance costs down
8 April 2021 - Globally the cost of compliance is rising – experts reveal their tips for advisers to make sure they are getting the best bang for their buck.
Westpac censured by Reserve Bank over governance
24 March 2021 - The Reserve Bank has forced Westpac to conduct two independent reviews into potential risk governance failings amid "ongoing compliance issues".
‘Spring cleaning on steroids’ for March 15
11 March 2021 - Compliance professionals are reporting “a frenzy of activity” as advisers get organised for the regulation change on Monday.
FMA warns adviser for KiwiSaver advice
5 March 2021 - The FMA has issued a warning to a financial adviser over KiwiSaver advice he gave a client during Covid market volatility.
Strategi offers ‘Covid assistance pack’ to advisers
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.
Many advisers not ready for D-Day
24 February 2021 - Good Returns speaks to adviser consultancy groups who say that many advisers are still dragging their heels coming up to March 15.
No appetite for PI any longer: compliance expert
16 December 2020 - After NZI’s announcement regarding PI, compliance expert Steven Burgess says that PI is on its way out the door for smaller businesses, but that might not be the end of the world.
Tribunal divvies up blame in maintenance ruling
6 November 2020 - New Zealand’s aging housing stock and tradition of informal landlord-tenant relationships have the potential for complex disputes where fault lies with both parties – as illustrated by a recent Tenancy Tribunal ruling.
COMMENT: The importance of correct structuring
5 November 2020 - Structuring the ownership of a property portfolio is rarely the first – or even the second - thought for new investors. But it should be, argues property accountant Anthony Appleton-Tattersall*.
Education for landlords by landlords
23 October 2020 - Self-managing landlords are signing up in droves for the NZ Property Investors Federation’s new education programme which aims to help landlords run their properties like professionals.
What lies ahead for investors
21 October 2020 - Election 2020 is done and dusted – and a red landslide has left the Labour Party firmly in charge of the next government. But what could that mean for property investors?
COMMENT: Property investment tax advantages
15 October 2020 - Public opinion has it that there’s lots of tax advantages with property investment. But property accountant Anthony Appleton-Tattersall* is asking people to let him know if they see any, as he hasn’t found them yet.
Tenancy reforms, tax changes would go under National
5 October 2020 - Getting rid of the Government’s tenancy law reforms and tax changes that impact on rental property owners are a key feature of the National Party’s new housing policy.
Big damage pay-out awarded to landlord
5 October 2020 - Tenant liability for damage has long been a fraught issue but a new Tenancy Tribunal case shows that damage rulings can sometimes favour a landlord.
COMMENT: The true cost to build a house
2 October 2020 - Think price-per-square-metre gives an accurate idea of the cost to build a home? Think again! Landmark Homes’ Warwick Aldridge* explains what’s not included – and what to look out for when comparing quotes.
Healthy Homes standards: to back or to scrap?
28 September 2020 - Landlords are divided over Barfoot & Thompson’s recent call to the National Party to hold fire on their plans to overturn the Healthy Homes standards if elected.
FMA: No excuses for shoddy conduct
25 September 2020 - After 18 months supervision of the financial sector, the FMA is calling for improvements to governance and compliance.
New renters' guide for tenants
23 September 2020 - Far too many tenants are not aware of their obligations around their rental property so a new guide aims to spell out what they need to know and do.
Call for rent caps after freeze ends
21 September 2020 - Rents are set to go up for many as the Covid-19 prompted freeze on rent increases comes to an end later this week, but tenant advocates are now calling for rents to be capped.
Ex-partner’s behaviour not a tenancy breach
15 September 2020 - Tenant responsibility for the behaviour of other people on the premises can have limits depending on the circumstances, a new Tenancy Tribunal ruling indicates.
COMMENT: Furore over Healthy Homes story misleading
8 September 2020 - Never let the truth get in the way of a good story. It’s a tried and tested adage – and it’s one the NZ Property Investors Federation president felt the brunt of yesterday, muses NZ Property Investor editor Miriam Bell.
COMMENT: Don’t miss your $5,000 deductions!
3 September 2020 - Residential landlords, take note: the clock is ticking on the Covid-19 related increase to the low value asset write-off threshold, writes property accountant Anthony Appleton-Tattersall.*
Moving rent tech out of the past
2 September 2020 - Recent tenancy law changes mean residential landlords will need to stay firmly on top of their rent collection processes – and a newly launched app aims to help them do that.
Consents no longer needed for low-risk work
31 August 2020 - Good news for those wanting to add a sleep-out, shed or carport to a property: today’s the day that consents are no longer needed for low-risk building work.
Online rent talk attracts ComCom attention
31 August 2020 - Think it’s okay to post about increasing rents on social media? Well, think again. That’s the warning contained in a Commerce Commission letter sent to property investor representatives last week.
Routine inspection pays off
24 August 2020 - Meth contamination was just one of the breaches uncovered during a routine property inspection that led to a firm Tenancy Tribunal ruling in favour of the landlord.
Changes to RTA now in force
19 August 2020 - The Government’s controversial tenancy law reforms are now law after the Residential Tenancies Amendment Bill 2020 received Royal Assent on 11 August 2020.
The return of Covid-19: what it means for landlords
12 August 2020 - After 102 days, Covid-19 is back and that means Auckland is returning to alert level three, while the rest of New Zealand will go to alert level two, on Wednesday. So what does that mean for landlords?
Greens propose more landlord regulations
10 August 2020 - Rental Warrants of Fitness. Licensing for landlords and property managers. They are ideas long held dear by the Green Party and, sure enough, they both feature in the Green’s new housing policy.
Persistent RTA breaches cost landlord
6 August 2020 - Ongoing disregard for her obligations under residential tenancy law has resulted in a hefty fine for a notorious Christchurch landlord.
It starts with governance
5 August 2020 - Russell Hutchinson discusses the importance of governance in achieving a compliant FAP business.
The final countdown
1 August 2020 - This week was supposed to see the second reading of the Residential Tenancies Amendment Bill in Parliament. That didn’t come about. So what happens now?
Opposition to RTA overhaul rages
28 July 2020 - The Government’s controversial tenancy law reform proposals look set to hit Parliament today, but opponents say it would be a big mistake for MPs to pass them into law.
Crunch time for tenancy law reforms
27 July 2020 - The Government’s tenancy law reforms are up for their second reading in Parliament this week – and landlord advocates are urging people to contact MPs with their concerns before midday Tuesday.
Super Fund, AML rules on National Party's hit list
16 July 2020 - National’s finance spokesman Paul Goldsmith says the party would put contributions to the New Zealand Super Fund on hold for the next four years if it were to form the next government.
COMMENT: Disappointment with the RTA Bill
13 July 2020 - The NZ Property Investors’ Federation is disappointed only minimal changes made to the Residential Tenancies Amendment Bill.
Select Committee green lights tenancy law reforms
10 July 2020 - Extreme disappointment is the response of property professionals to the Select Committee report on the Government’s proposed tenancy law reforms which was released this week.
COMMENT: Are Airbnb hosts in breach of the RTA?
30 June 2020 - Landlords could be using short term booking sites like Airbnb in an attempt to contract out of the Residential Tenancies Act, but by doing so they are exposing themselves to substantial risk and possible rent refunds, writes property management consultant David Faulkner.
Mould complaint doesn’t warrant reduced tenancy term
23 June 2020 - Many landlords are concerned the Tenancy Tribunal tends to favour tenants but one recent decision shows that’s not always the case.
Tenancy termination ban lifted
18 June 2020 - The end is nigh for emergency tenancy measures introduced during the Covid-19 lockdown with the Government today confirming the measures won’t be extended.
Wind up emergency tenancy provisions now - REINZ
12 June 2020 - Emergency tenancy provisions introduced because of Covid-19 are now doing more harm than good so it’s time to bring them to an end, the Real Estate Institute says.
Level one: the new normal
11 June 2020 - New Zealand is a few days into alert level one and that means the residential property sector is seeing some changes as we all adjust to the “new normal”.
COMMENT: Will level one mean level one for residential landlords?
7 June 2020 - Cabinet is considering a move to alert level one tomorrow, so does that mean it will all be back to normal for New Zealand's 290,000 rental property owners and managers, Tenancies War spokesman Mike Butler* asks.
Concerns over commercial rent dispute plan
4 June 2020 - Too little, too late. That’s what commercial landlords’ advocates have to say about the Government’s newly announced $40 million commercial rent dispute package.
Compliance statement deadline extended
2 June 2020 - There’s some relief for struggling landlords with the announcement today that the Healthy Homes Compliance Statement deadline has been extended for an additional five months.
COMMENT: Housing supply increase is being hampered
22 May 2020 - The much-needed increase in housing supply is being hindered by new legislation relating to rental properties, warns NZ Property Investors Federation executive officer Sharon Cullwick.
Rent arrears end tenancies in lockdown
20 May 2020 - The Covid-19 crisis saw the introduction of emergency rules which make it harder to terminate tenancies, but a recent Tenancy Tribunal ruling shows that racking up rental arrears can still mean the end of a tenancy.
Navigating level two: what landlords need to know
18 May 2020 - With around 95% of businesses now back at work and children returning to schools today, New Zealand is now fully ensconced in alert level two. So what does that mean for residential landlords?
Real estate in level two
7 May 2020 - Open homes. Rental viewings. Auctions. They look to be on the cards again soon, with the country heading towards alert level two.
Contactless solution for rental viewings
4 May 2020 - Rental viewings are once again possible but in a post-lockdown world they have to be run very differently - and a new property tech solution could be the answer.
Insurance FAQs for uncertain times
1 May 2020 - COVID-19 is set to be with us for many months ahead, so the Insurance Council of New Zealand has answered some commonly asked questions for landlords…
Govt considers commercial rent relief solutions
30 April 2020 - Mounting costs for small businesses trying to deal with the economic fallout of Covid-19 have prompted the Government to consider rent relief options.
What alert level three means for landlords
29 April 2020 - New Zealand has now moved out of alert level four lockdown to alert level three and that means a few less restrictions for residential rental property owners. Here’s some guidance on what the new rules are…
COMMENT: The rental housing conundrum
20 April 2020 - Still simmering away below all the Covid-19 virus activity is the Government’s “reform” of the Residential Tenancy Act and that’s something we should all be concerned about, writes Auckland Property Investors Association vice-president Peter Lewis…
COMMENT: The ongoing fight for landlords’ rights
18 April 2020 - Proposed changes to tenancy law have left landlords fighting to retain the right to end difficult tenancies while students are fighting for the right to party, reports NZ Property Investors Federation executive officer Sharon Cullwick.
Life at level three for residential landlords
17 April 2020 - It won’t be a full release from lockdown but moving to alert level three will mean businesses that can operate safely will be able to reopen. So what does that mean when it comes to residential property?
More relief needed for commercial property sector
16 April 2020 - New measures to help out commercial landlords and tenants struggling with Covid-19 related lease issues have been announced – but the Property Council is warning that more support is needed.
One in five tenancies could fall into arrears
14 April 2020 - The Covid-19 crisis will result in greater falls in rents and higher default rates in regions, or suburbs, with higher rents, according to property management companies.
“No access in emergency” lease clause: putting it in context
8 April 2020 - Much attention has focused on a commercial property lease clause which could mean commercial tenants don’t have to pay all their rent during lockdown, so the Auckland District Law Society is providing more information about it...
Tenancy reform Select Committee hearings to go ahead
7 April 2020 - The Covid-19 lockdown may have put a halt to most Parliamentary business but not, it turns out, to the progress of the Government’s controversial tenancy law reforms.
AML warnings issued
6 April 2020 - The Financial Markets Authority has issued a formal warning to NZX-accredited broker Tiger Brokers for not having adequate AML protection in place.
Moving properties during COVID-19 lockdown
30 March 2020 - Confused about whether tenants can move properties during the lockdown? If so, you’re not alone – so Tenancy Services has now released some advice around the issue.
Landlords’ plea: don’t unfairly target us
27 March 2020 - There are growing concerns among many landlords about unreasonable expectations from tenants, and the Government, in relation to rent during the lockdown.
Emergency rules boost tenant protections
25 March 2020 - Landlords can't raise rents or evict tenants, expect in specific situations, during the Covid-19 lockdown – but tenants do have obligations too.
Covid-19 crisis: what landlords need to know
25 March 2020 - [UPDATED] The Covid-19 crisis means that New Zealand is now in a State of National Emergency and the nationwide lockdown begins tonight.
COMMENT: Property from the trenches
24 March 2020 - Covid-19's major impact on New Zealand's economy means job losses and that has implications for landlords. Veteran investor Debbie Van Den Broek offers some suggestions on how landlords can weather the storm.
Put RTA reform proposals on ice
23 March 2020 - Now is not the time for the Government to push through its proposed tenancy law reforms, property market players say.
How to address tenant job loss in the age of coronavirus
20 March 2020 - Compassion should be key to how landlords deal with tenants affected by coronavirus job losses but, ultimately, they are running a business and still need to pay their mortgages.
Battle against RTA reforms continues
18 March 2020 - Coronavirus might be dominating the headlines but investor advocates are urging landlords not to forget about the threat posed by the proposed reforms to tenancy law.
Get on top of boarding house rules
11 March 2020 - There’s a fair bit of uncertainty around boarding houses and Tenancy Services is warning landlords they need to know the law around this area.
National would ditch proposed rental regulations
9 March 2020 - The Government’s controversial tenancy law reforms would be among the first regulations National would throw on to the regulations “bonfire” it is planning if elected.
Failure to lodge bonds earns major penalty
6 March 2020 - A Tauranga property management company has been ordered to pay $16,417 for failing to lodge bonds within the required timeframe on multiple occasions.
On the brink of a crisis
3 March 2020 - Proposed tenancy law changes, which come in an environment of rental shortage, are on the brink of creating a low socioeconomic rental crisis.
Removal of no-cause notice opposed by 45% of tenants
2 March 2020 - It’s not just landlords who are opposed to the removal of the no-cause 90-day notice: a new REINZ survey reveals that close to half of tenants are too.
Tenancy reform submissions due March 25
26 February 2020 - Worried about the government’s tenancy law reforms? You’d better speak up soon because there’s under a month to make a submission on the legislation.
RTA reforms pile pressure on landlords
24 February 2020 - Less rental properties and higher rents could result from the reforms contained in the Residential Tenancies Amendment Bill, both Opposition MPs and government officials are warning.
Full steam ahead for tenancy reforms
21 February 2020 - Landlords won’t have long to have their say on the government’s tenancy law reform proposals after Parliament voted that the Select Committee dealing with the legislation should report back by 22 June.
The cost of running a one-person FAP revealed
18 February 2020 - It’s been estimated it might cost $10,000 to become licensed as a small adviser business, and then $10,000 a year to operate – but there’s a warning that’s the wrong way to look at it.
Tenancy reform bill hits Parliament
17 February 2020 - Controversial tenancy law reforms, in the form of the Residential Tenancies Amendment Bill, were introduced into Parliament on Monday and property industry players are not happy about it.
Rental contaminated, not damaged by meth
11 February 2020 - Establishing meth contamination of a rental property, and working out the penalties for any damage, can be a complex business these days - as a recent Tenancy Tribunal decision illustrates.
COMMENT: Checking in on insulation
7 February 2020 - Sizzling summer temperatures might be hitting towns all round New Zealand yet the insulation of rental properties remains a hot topic, writes NZ Property Investor editor Miriam Bell.
Getting heating right
24 January 2020 - Heating requirements for rental properties are currently a source of confusion for many landlords and property managers so REINZ has issued a reminder of what is required.
Newpark sets up support team
22 January 2020 - Adviser group Newpark has set up a support and compliance team to help advisers transition to the new regulatory regime.
Call for apartment law reform petition support
17 January 2020 - The campaign to reform apartment law is heating up once again with National MPs urging property owners to sign a petition calling for changes to the law.
Defining “clean and tidy”
10 December 2019 - The issue of exactly how clean and tidy rental properties should be when tenants vacate has long been a battleground but a recent Tenancy Tribunal decision provides some guidance.
COMMENT: Landlords obligations to tenants
10 December 2019 - Do landlords have moral and social obligations towards their tenants, asks Auckland Property Investors Association vice-president Peter Lewis.
COMMENT: Unlawful premises – moving past Anderson v FM Custodians
26 November 2019 - Curious about the law around the use of non-residential property for residential purposes? Auckland Property Investors Association member Kristine King* explains the situation now that there’s new legislation in place.
COMMENT: Removing 90-day notices - the impacts
20 November 2019 - Being a successful landlord is all about managing risk but getting rid of “no cause” 90-day’ notices means risk will skyrocket, argues NZ Property Investor Federation executive member Brian Kerr.
Key reform will only protect bad tenants
18 November 2019 - Getting rid of “no cause” termination notices only serves to protect bad tenants and will have a negative impact on the broader community, not just landlords, according to landlord advocates.
ComCom warning for property trader
15 November 2019 - A property trader, who has attracted unfavourable media attention in recent years, has received a formal warning from the Commerce Commission.
MyFiduciary does JHC deal
14 November 2019 - Finzo has become the first New Zealand business to adopt new technology being distributed in this country through a partnership deal with MyFiduciary.
More than fair “wear and tear”
12 November 2019 - Proving tenant liability for damage has long been a major worry for landlords but a recent Tenancy Tribunal ruling shows that it can be done.
The getting of wisdom
11 November 2019 - Landlords concerned about the increasing amount of rules and regulations it’s necessary to comply with can now get training to help them out.
COMMENT: The truth about tenancy terminations
5 November 2019 - The Government wants to get rid of “no-cause” tenancy terminations. Auckland Property Investors Association vice president Peter Lewis explains why that is a bad idea.
Strong meth suspicions call for testing
21 October 2019 - Panic around the meth contamination of rentals has diminished, but a Tenancy Tribunal decision reinforces that landlords still have an obligation to test properties when contamination is suspected.
Advisers not dropping out, Financial Advice NZ says
17 October 2019 - Financial Advice NZ says most advisers plan to remain in the sector under the new licensing regime – and most will take their own licence.
Prefab changes don’t address finance issue
14 October 2019 - Reforms to the Building Act will make it easier to carry out a prefab build - but it will be large scale projects that benefit rather than smaller-scale investor projects.
New ring-fencing rules in play
11 October 2019 - Landlords - don’t forget about the Government’s changes to the rules around the ring-fencing of rental losses as they are now in force, Inland Revenue is warning.
Collaboration key to urban development
11 October 2019 - Central and local government and industry must work together to ensure that the Government’s proposed new urban development strategy is successful.
Govt seeks feedback on disclosure rules
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.
Code Committee: We've thought about what could have been better
9 October 2019 - Advisers in the new financial advice regime will work under a much narrower “client-first” obligation than AFAs operating in the market at present, says the chairman of the committee that drafted the previous version.
What to do, what to do …
8 October 2019 - Although compliance with the Financial Advice Code should be a given there are some missing pieces from the puzzle of compliance under the new regime.
Airbnb room rental not bylaw violation
4 October 2019 - Renting a spare bedroom on Airbnb was a breach of the tenancy agreement but it did not constitute an unlawful act - under a local body by-law - by the tenant, the Tenancy Tribunal has found.
Govt must regulate property managers - REINZ
25 September 2019 - REINZ has stepped up its campaign to introduce national regulation for property managers with the launch today of a new website devoted to the cause.
Lodge bonds or expect a penalty
23 September 2019 - Failure to lodge multiple tenancy bonds has earned another Auckland landlord a hefty penalty from the Tenancy Tribunal – and prompted a general warning to landlords.
Identity verification requirements 'empire building'
23 September 2019 - [UPDATED] An Auckland financial adviser wants a rethink of the identity verification requirements for AML.
[The Wrap] Let's not follow what's happening in Australia
6 September 2019 - This week’s Wrap is a sobering one and one with some lessons from Australia we don’t want to repeat.
COMMENT: How much is too much
5 September 2019 - New regulations around rental properties mean that being a landlord is becoming increasingly unattractive. Auckland Property Investors Association vice president Peter Lewis asks how much is too much…
COMMENT: The dangers of neglecting code compliance certificates
28 August 2019 - It’s a legal requirement for commercial buildings to have a Code Compliance Certificate yet many don’t. Building compliance expert Rosie Kilip explains why this is not a good thing...
New privacy guidelines welcomed
19 August 2019 - Confusion over what information landlords can ask for when selecting tenants should be eased by a new set of guidelines from the Office of the Privacy Commissioner (OPC).
Tenants need to know about insurance
7 August 2019 - Take note landlords – if you are worried about liability for tenant damage, the time to talk to your tenants about insurance is now.
Tribunal fines landlord for insulation fail
7 August 2019 - Failure to install insulation into a rental property by the July 1 deadline has earned a Bay of Plenty landlord a $1,500 penalty and a work order.
New tenant damage, meth measures are only partial solutions
26 July 2019 - Changes to the legislation around tenant damage and meth contamination have been years in the making but now they are finally here are they any good for landlords?
Tenants liable for careless damage – to a point
25 July 2019 - Tenants will now have to take some responsibility for careless damage to rental properties after the Residential Tenancies Amendment Bill (No. 2) passed its final reading in Parliament on Wednesday.
Govt opts for sweeping review of 'underperforming' RMA
24 July 2019 - A sweeping review of the Resource Management Act opens the way to splitting the law relating to environmental protection and urban development back into two separate pieces of legislation as Environment Minister David Parker concedes the 28-year-old law needs a total overhaul.
Changes to quake prone building system
15 July 2019 - Owners of earthquake-prone buildings (EPBs) will now be able to conduct modest building alterations without having to undertake seismic strengthening work at the same time.
Insulation D-Day
1 July 2019 - Today’s the day that all rental properties must have ceiling and underfloor insulation under the Residential Tenancies Act – and it looks like the majority will be compliant.
COMMENT: The compliance struggle
26 June 2019 - For many property investors, the end goal is setting themselves up for retirement – but new requirements are making that harder. Investor Dale Young explains how his retirement project is turning into a compliance nightmare...
Homesellers required to provide IRD number
19 June 2019 - Investors who flip properties are currently subject to the bright line test, but owner-occupiers are not. That is now set to change.
Urgent building law reform needed - Goff
17 June 2019 - Problems with building law have long been rife. Now Auckland’s Mayor is calling for radical reform of the Building Act and Code to deal with the housing crisis.
Call to license landlords
10 June 2019 - There’s a fresh demand for the mandatory licensing of landlords – and this time it comes from property manager representatives.
Serial failure to lodge bonds earns massive fine
6 June 2019 - The importance of lodging tenants’ bond money is demonstrated by a new Tenancy Tribunal ruling which orders an Auckland landlord to pay nearly $180,000.
Privacy guidelines under review
5 June 2019 - Controversial new Privacy Commissioner guidelines covering the information that landlords should and shouldn’t ask for when selecting tenants have been withdrawn – for now.
COMMENT: Tenant selection turned into a lotto draw
1 June 2019 - The Privacy Commissioner has created a lotto draw for tenant selection with the recent release of some ill-conceived guidelines, writes property management consultant David Faulkner.
Don’t wait - get compliant
30 May 2019 - Radical, costly and with issues? Yes. But the new Healthy Homes minimum standards are warranted and will improve New Zealand’s housing stock, according to one property management consultant.
Applying for a tenancy like applying for a job
25 May 2019 - Credit checks should only be conducted after someone becomes the preferred candidate for a tenancy - not in the early stage of the application process, according to the Office of the Privacy Commissioner.
No extensions for insulation compliance
24 May 2019 - There will be no extensions for landlords who don’t comply with the 2016 insulation requirements, the Ministry of Business, Innovation & Employment is warning.
Credit check ban unreasonable
23 May 2019 - Preventing landlords from running credit checks on prospective tenants - as mandated by new privacy guidelines - is not reasonable, tenancy experts say.
COMMENT: Why the new standards are not the answer
23 May 2019 - The final version of the Government’s new Healthy Homes minimum standards came out last week. Stop the War on Tenancies spokesman Mike Butler tells us what he thinks about them…
What landlords can't ask tenants
22 May 2019 - Think you know what you can ask a prospective tenant? It might pay to check out the Privacy Commissioner’s new guidelines to see if what you are asking really is acceptable.
Warning: insulation deadline looming
21 May 2019 - Landlords take note: there’s only 40 days left to insulate rental properties before a $4,000 fine from the Ministry of Business, Innovation and Employment (MBIE) comes into play.
Standards set to cost
17 May 2019 - Nearly 60% of Auckland property investors believe they will have to spend money to be compliant with the new Healthy Homes minimum standards, according to new Crockers research.
It’s the law: Healthy Homes standards
13 May 2019 - The Government’s Healthy Homes minimum standards will be law from 1 July 2019 – even though their final form won’t be released until later this week.
Beware unauthorised trades work
8 May 2019 - Property owners are being warned not to fall into the trap of using unlicensed people to conduct plumbing work on renovation projects.
Warning: don’t overlook consents for property work
7 March 2019 - Undertaking major work on properties without consents in place has come back to bite two Auckland property owners after Auckland Council took them to court for it.
Cost of standards will hit tenants
25 February 2019 - Parts of the Government’s new Healthy Homes minimum standards are not cost-effective and that will impact on tenants, according to investor advocates.
Shake-up coming for RFA insurance advisers
15 March 2018 - Insurance advisers operating as RFAs are being told they will need to have some qualifications to operate in the new advice environment – and whether that’s level 5 or a degree-level will depend on what they offer.
Options emerge for licence-averse advisers
24 January 2018 - One compliance firm is pondering becoming a financial advice provider to help small businesses in new regime.
The 10 best ways to compete with the big end of town
23 January 2018 - It is true, the big end of town has advantages – and yet third-party advisers, typically running small businesses, have done very well over the years and have a strong offer to the market.
No safe harbour for new advisers
17 January 2018 - Advice firms wanting to recruit new advisers could have a new hurdle once the new regime takes effect.
Squeeze on financial recruitment
11 January 2018 - A tough hiring environment may force banks and other financial institutions to take a broader approach to finding financial advisers this year.
Law changes look like Aussie model: Stewart
14 December 2017 - Smaller advice firms could find the new legislative regime is harder to deal with than they expect, if the Australian experience is anything to go by.
Dealer groups prepare for legislation change
13 December 2017 - Dealer groups may have to reconsider their value proposition under the new licensing regime.
It's real; Financial adviser reforms are go
7 December 2017 - The Government has pushed the go button for significant reforms to how financial advice is delivered in New Zealand. This evening the Financial Services Legislation Amendment Bill has had its first reading in Parliament and now goes to Select Committee.
AML warning for broker firm
24 November 2017 - The FMA has issued a formal AML/CFT warning to brokerage firm Fullerton Markets. An inspection showed the firm did not have adequate risk assessment and...
A survival guide for financial adviser licensing
21 November 2017 - All financial advisory businesses will begin a mandatory licensing process, but do not fear, the FMA comes in peace, John Berry says. In the first of two-part commentary he shares his views on what to expect and how to prepare for change.
Kepa, The Advisers Institute, reveals new partner
26 October 2017 - [Advertorial] Leading New Zealand adviser group Kepa has announced a partnership with up-and-coming mortgage advice company Mortgage Lab.
Are you part of someone else’s plan?
2 October 2017 - If you don't make plans yourself you will become part of somebody else's. It's an old saying but it’s true.
Getting to Know: Murray Harris
29 September 2017 - Murray Harris says financial advice is about much more than money and investments. But his time with the world's super-wealthy has given him added appreciation of both.
Getting to Know: Andrew Kelleher
22 September 2017 - Andrew Kelleher - financial adviser, wealth manager... hole-digger?
Trustee company turns to private equity
1 September 2017 - Private equity company Direct Capital takes a stake in Complectus, which owns Perpetual Guardian and other trustee firms.
FMA outlines plans - has eyes on advisers
30 August 2017 - The Financial Markets Authority is laying out how it plans to use its new, increase level of funding – and advisers can expect to receive its attention.
Getting to Know: Reagan Bax
25 August 2017 - Is Reagan Bax, brother of model Kylie Bax, the only member of the NZ financial advice sector to have played golf with Donald Trump?
Many advisers 'won't pass licensing hurdle'
1 August 2017 - As many as 40% of advisers may fail to receive a licence under the new regulatory regime, it has been suggested.
Advisers should be whistle-blowers
27 July 2017 - Advisers are blowing the whistle on each other – and industry commentators say that’s to be encouraged.
GRTV: Code working group, active v passive and the rising cost of financial advice
14 July 2017 - In this latest episode of GRTV, Mike Newton of advice firm Newton Ross discusses the "scary" make up of the new code working group, Hobson Wealth Partners' Warren Couillault talks about the rising cost of providing financial advice and finally Paul Moore of PM Capital explains why passive managers’ luck just might run out.
Advice becoming more expensive
7 July 2017 - It now costs 50% to 100% more to provide financial advice than it did five years ago, says Warren Couillault, executive director of Hobson Wealth Partners.
New AML classification for financial advisers - what changes?
5 July 2017 - Advisers have had their AML risk assessment downgraded but don’t expect that to translate into any lesser regulatory requirements.
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.
Some advisers in for a shock: Trainer
5 September 2016 - Bigger financial advice firms are starting to upskill their staff ahead of the Financial Advisers Act changes, but small operations are still burying their heads in the sand, one training provider says.
New business to offer online compliance help
31 March 2016 - A new compliance business is offering advisers the ability to have their AML obligations taken care of, remotely.
Lack of disciplinary action shows advisers performing
19 February 2016 - A lack of complaints and disciplinary action taken against financial advisers in New Zealand shows most are doing a sound job for their clients, the Institute of Financial Advisers says.
