Legal and regulator update for the life and health insurance sector
April 06, 2022
4 April 2022 - Minister of Commerce and Consumer Affairs, Hon David Clark, January and February 2022 diary released with the following potential financial services sector related meetings noted:
- 2 Feb 2022 – ASB (Vittoria Short, CEO; Craig Sims, Executive GM; Debbie Mills, Tribe Lead Home Ownership & Louise Griffin GM Govt Relations)
- 2 Feb 2022 – Kiwibank (Steve Jurkovich, CEO; Liz Knight (CRO); & Mike Hendriksen (CLO))
- 2 Feb 2022 – BNZ (Dan Huggins, CEO; Sam Perkins, Chief Risk Officer; Martin Elliott, GM Consumer Product Lending Domain; Dean Schmidt, Exec, Commercial Services and Responsible Business; Paul Hay, GM, Regulatory Affairs; Dirk McLeish, GM, Line 1 Control and Assurance)
- 2 Feb 2022 – Westpac (Catherine McGrath, CEO, Westpac; Clayton Cosgrove)
- 2 Feb 2022 – ANZ (Antonia Watson, CEO; Peter Parussini, GM Public, Consumer and Govt Affairs; Ben Kelleher – MD, Personal Banking; Cushla Scholfield, Associate General Counsel; Andrew Gaukrodger - Govt Relations & Corporate Responsibility)
- 9 Feb 2022 – IAG (Bryce Davies, Corp Relations and Amanda Whiting, CEO)
- 9 Feb 2022 – Financial Advice NZ (Heather Roy, Chair and Katrina Shanks, CEO, and John Bolton, Director)
- 10 Feb 2022 – FinCap (Ruth Smithers, CE)
- 17 Feb 2022 – Speech to FSC Future Ready Advice Summit
https://www.beehive.govt.nz/minister/hon-dr-david-clark
4 April 2022 – Government announced a new round of sanctions announced targeting Russian oligarchs. https://www.beehive.govt.nz/release/new-round-sanctions-announced-targeting-russian-oligarchs
5 April 2022 – Parliament completed the first reading of the Fair Pay Agreements Bill, referred to the Education and Workforce Select Committee with report back due by 5 Oct 2022.
6 April 2022 – IRD advised that a new FATCA Excel file template is now available for download via myIR.
6 April 2022 – Commission for Financial Capability released data about KiwiSaver balances across age groups and gender, with the data collected by Melville Jessup Weaver actuaries on behalf of the Commission. https://retirement.govt.nz/news/latest-news/new-data-reveals-for-the-first-time-largest-breakdown-of-kiwisaver-balances-across-all-ages-and-genders/
6 April 2022 – Privacy Commissioner invited submissions on a proposal to amend the Health Information Privacy Code 2020 to align it to the Pae Ora (Healthy Futures) Bill, with submissions closing on 4 May 2022. https://privacy.org.nz/publications/statements-media-releases/submissions-invited-on-proposal-to-amend-the-health-information-privacy-code-2020-to-align-it-to-the-pae-ora-healthy-futures-bill/