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CoFI passes in Parliament, and other news

Legal and regulatory update for the life and health insurance sector

28 June 2022 - Financial Markets (Conduct of Institutions) Amendment Bill completed third reading in Parliament.

https://www.beehive.govt.nz/release/govt-passes-law-protect-consumers-banking-and-insurance-sector

https://www.fma.govt.nz/news-and-resources/media-releases/culture-shift-for-financial-services-cofi-bill-passes/

https://www.mbie.govt.nz/about/news/new-financial-conduct-regime-will-ensure-customers-are-treated-fairly/

https://www.parliament.nz/en/pb/bills-and-laws/bills-proposed-laws/document/BILL_93443/financial-markets-conduct-of-institutions-amendment-bill

29 June 2022 – RBNZ released a statement outlining that, at a meeting of South Pacific Central Bank Governors on 20 June 2022, the Governors reconfirmed their commitment to supporting the region’s access to cost effective remittances, retention of bank services and improving financial inclusion. https://www.rbnz.govt.nz/hub/news/2022/06/central-banks-committed-to-economic-prosperity-and-wellbeing-in-south-pacific

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