Financial industry associations say a ban on commissions paid to financial advisers for selling financial products would harm consumers.
January 25, 2023The rules strengthen requirements for firms to protect customers and implement transaction management and process controls.
January 24, 2023Banks, insurers and non-bank deposit takers will be required to obtain a conduct licence from the FMA, on top of their prudential licences from the RBNZ.
July 1, 2022Fund managers are showing repeatable performance but the "benefits of their skill" are being overshadowed by fees and commissions paid to third parties.
May 20, 2022On top of a A$20mn penalty, BT Funds Management will pay A$9.8mn in remediation to over 9.900 superannuation members.
April 11, 2022The ICAC charged the six former employees with conspiracy to defraud AXA of over HKD 950,000 in commissions and bonuses.
December 24, 2021Westpac has already agreed to admit to the allegations, remediate A$80mn to customers, and pay A$113mn in penalties, subject to court approval.
November 30, 2021Three ex-insurance agents allegedly conspired to defraud AXA of HK$1.2mn in commissions and bonuses, and to launder over HK$2.7mn in crime proceeds.
September 16, 2021MAS proposes to refine the tier structure requirements and clarify the types of remuneration that can be paid as overriding benefits.
July 16, 2021Two insurers, two financial advisory firms, and two individuals were reprimanded over breaches related to their risk management arrangements and remuneration practices.
June 16, 2021