Conduct issues in the life insurance and banking sectors resulted in over NZD 43 million and NZD 109 million in customer remediation, respectively.
October 8, 2022The FMA offers guidance for reporting entities on their obligations under the FMC Act to keep proper accounting records.
October 6, 2022Two consultations have been issued, including an exposure draft on regulations defining prohibited volume-based sales incentives.
October 1, 2022The FMA is proposing to update its 2014 guidance to align with regulatory updates and incorporate additional guidance for custodians.
September 28, 2022The FMI Standards are likely to be issued in early 2023 and take effect around 1 August 2023 - once FMI designations are complete.
September 26, 2022The FMA says investors should make sure the risks and returns are properly explained before they allow their shares to be lent out.
September 9, 2022The FMA will prioritise work on three new legislative regimes: financial advice licensing, climate-related disclosures, and conduct licensing.
August 30, 2022The XRB intends to finalise the standards in December 2022. New Zealand's first climate statements will be published in April 2024.
July 31, 2022Fund managers need to provide accurate and high-quality information to explain and support claims that their products incorporate non-financial factors.
July 29, 2022Banks, insurers and non-bank deposit takers will need a ‘financial institution licence’ issued by the FMA starting in early 2025.
July 21, 2022