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Legal and regulatory review for the life and health insurance sector

13 Sept 2021 – FMA announced the appointment of experienced international regulator Samantha Barrass as its new Chief Executive, expected take up the role in January 2022 with Liam Mason as Acting CEO in the interim following Rob Everett’s departure at the end of October 2021. https://www.fma.govt.nz/news-and-resources/media-releases/fma-announces-new-chief-executive-2021/

9 Sept 2021 – MBIE issued advice that, of significance to lenders and borrowers, the Government has agreed to a short delay to the full commencement of the Credit Contracts Legislation Amendment Act 2019 by two months, to 1 December 2021, considered necessary due to the impact of recent COVID-19 alert levels.

9 Sept 2021 – FMA advised that it will generally provide “no action relief” where a market participant breaches, or expects to breach, a regulatory obligation as a result of the COVID-19 circumstances and seeks relief from the FMA. https://www.fma.govt.nz/news-and-resources/covid-19/no-action-relief-as-a-result-of-covid-19/

9 Sept 2021 – RBNZ advised that it will be holding a webinar on its insurance policyholder security consultation at 10am next Wednesday, 15 September via Microsoft Teams.

9 Sept 2021 – MBIE advised that various papers related to the Regulation of the Retail Payments System have been released, including:

Regulation of the Retail Payments System Additional Approvals Cabinet Paper

Regulation of the Retail Payments System: Additional Policy Approvals Cabinet Minutes

Regulatory Impact Statement: additional tools for regulating the retail payments system

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