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Legal and regulatory update for the life and health insurance sector

4 Nov 2020 – FMA announced the appointment of two new specialist roles focused on deepening the regulator’s expertise in two evolving and important sectors: financial technology (FinTech) and environmental, social and corporate governance (ESG) impacts on financial markets. https://www.fma.govt.nz/news-and-resources/media-releases/fma-appoints-specialist-roles-in-fintech-and-integrated-financial-system/

5 Nov 2020 – In the latest e-mailed FMA Update, the FMA advised that:

  • The Financial Advice Provider Full Licence Application Guide will be released on the FMA website this month, with Financial Advice New Zealand hosting a launch event, which will be livestreamed nationwide from Christchurch.
  • The FMA intends to seek submissions from the public this month on a draft guidance note on advertising offers of financial products, with submissions expected to close mid-February 2021.

5 Nov 2020 – Commerce Commission released its Complaints Snapshot for 2019-2020, with an associated media release noting the increase in travel related complaints, with telecommunications complaints still featuring strongly. https://comcom.govt.nz/business/consumer-reports/complaints-snapshot-201920

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