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Legal and regulatory update for the life and health insurance sector

Legal and regulatory review for the life and health insurance sector

11 June 2021 – FMA announced a temporary extension for certain reporting deadlines in response to a shortage of auditors in New Zealand. https://www.fma.govt.nz/news-and-resources/covid-19/temp-extension-reporting/

9 June 2021 - New Zealand Superannuation and Retirement Income (Fair Residency) Amendment Bill completed second reading in Parliament. https://www.parliament.nz/en/pb/bills-and-laws/bills-proposed-laws/document/BILL_80767/new-zealand-superannuation-and-retirement-income-fair

9 June 2021 – Interest.co.nz reported that Commerce and Consumer Affairs Minister David Clark says a discussion paper on the potential regulation of unregulated buy now, pay later services will be issued later this year. https://www.interest.co.nz/personal-finance/110754/buy-now-pay-later

10 June 2021 – IRD and Government announced consultation has opened on deductions for interest expenses on rental properties, to be restricted from 1 October 2021, with an exemption for new builds. Submissions close on 12 July 2021. https://taxpolicy.ird.govt.nz/news/2021/2021-06-10-interest-deductibility-consultation-launched

10 June 2021 – Government announced that a license to operate a share trading market for small companies has been issued to Catalist Markets Ltd, with the new market expected to open for trading on 21 June 2021. Relevant weblinks are https://www.beehive.govt.nz/release/new-stock-exchange-help-grow-small-businesses and https://www.catalist.co.nz/

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