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Legal and regulatory update for the life and health insurance sector

30 Nov 2020 - Reserve Bank invited feedback on scope of the Insurance Prudential Supervision Act (IPSA) 2010 and associated Insurer Solvency Standards, releasing two consultation papers, with submissions closing on both papers on 18 Feb 2021. The Reserve Bank will be hosting a webinar to discuss the consultations on Monday 14 December. To express your interest in participating, email rbnz-info@rbnz.govt.nz Link to the announcement at https://www.rbnz.govt.nz/news/2020/11/reserve-bank-invites-feedback-on-scope-of-insurance-act-and-structure-of-solvency-standards

26 Nov 2020 - Health Funds Association of New Zealand (HFANZ) and the Financial Services Council (FSC) today announced a merger into one single organisation under the Financial Services Council banner from 1 December 2020, creating a membership association of close to 90 organisations. https://www.fsc.org.nz/site/fsc1/201126%20Health%20Funds%20Association%20of%20NZ%20to%20merge%20with%20the%20Financial%20Services%20Council.pdf

26 Nov 2020 – IRD tax policy website included information and a link to the Minister of Revenue’s speech to CAANZ on 19 Nov 2020, outlining the Government’s tax priorities in the short term. https://www.beehive.govt.nz/speech/keynote-address-chartered-accountants-australia-and-new-zealand-conference

27 Nov 2020 - NZX confirmed plans to create an Information Technology (IT) working group that will include leading representatives from across the capital markets’ technology ecosystem. https://www.nzx.com/announcements/364053

27 Nov 2020 – Privacy Commission website included a new post on transitioning from Privacy Act 1993 to Privacy Act 2020. https://www.privacy.org.nz/blog/transitioning-from-the-privacy-act-1993-to-the-privacy-act-2020/

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