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AMP cover extension guidelines

Legal and regulatory update for the life and health insurance sector

7 Sept 2020 – Dentons Kensington Swan advised that a number of existing exemptions relating to brokers and financial advisers have been extended so that the expiry of each coincides with the commencement of the Financial Services Legislation Amendment Act 2019 (‘FSLAA’) on 15 March 2021. The notices, all dated 27 August 2020, are as follows:

  • Financial Markets Conduct (Offers of Financial Products Through Authorised Financial Advisers Supplying Personalised DIMS) Exemption Notice 2020n (Effective 6 Nov 2020)
  • Financial Advisers (Non-NZX Brokers—Client Money) Exemption Amendment Notice 2020 (Effective 30 Sept 2020)
  • Financial Advisers (NZX Brokers—Client Money and Client Property) Exemption Notice 2020 (Effective 1 Dec 2020)

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