Legal and regulatory update for the life and health insurance sector

23 May 2022 – The Council of Financial Regulators posted brief comment and links to the Environment Ministry releases on New Zealand’s first Emissions Reduction Plan and the consultation being undertaken on the Draft National Adaptation Plan, with the consultation closing on 3 June 2022. https://www.cofr.govt.nz/

24 May 2022 – RBNZ published its feedback to responses received on its Insurance (Prudential Supervision) Act (IPSA) 2010 Policyholder Security consultation. https://www.rbnz.govt.nz/news/2022/05/insurance-policyholder-protection-consultation-helps-shape-future-policy

24 May 2022 - As part of Privacy Week 2022, the Office of the Privacy Commissioner joined Charities Services on a webinar called ‘Privacy 101 for Charities’. https://privacy.org.nz/blog/privacy-101-for-charities-a-recap/

24 May 2022 – The FMA held a webinar presentation for the financial services industry on the steps intended to be followed by the FMA to develop Conduct of Financial Institutions (CoFI) Intermediated Distribution Guidance.


Legal and regulatory review for the life and health insurance sector

3 March 2022 – APRA released life insurance statistics for December 2021. https://www.apra.gov.au/news-and-publications/apra-releases-life-insurance-statistics-for-december-2021

3 March 2022 – The Commission for Financial Capability announced a new programme helping 1200 Pacific households on their journey to home ownership. https://retirement.govt.nz/news/latest-news/new-pathways-for-pacific-home-ownership/

3 March 2022 – The Council of Financial Regulators posted online details of its meeting held on 1 March 2022, together with advice of release of an updated Regulatory Initiatives Calendar. https://www.cofr.govt.nz/

4 March 2022 – Financial Services Council launched its 2022 Financial Resilience Index. https://blog.fsc.org.nz/2022-research-financial-resilience-index

3 March 2022 - The Reserve Bank of New Zealand said  its latest survey underscores the need for deliberate changes to the cash system to keep it resilient and efficient while needed and wanted by New Zealanders. https://www.rbnz.govt.nz/news/2022/03/cash-system-redesign-essential-to-support-changing-usage

3 March 2022 - Taxation (Annual Rates for 2021-22, GST, and Remedial Matters) Bill reported back to Parliament from the Select Committee. https://www.parliament.nz/en/pb/bills-and-laws/bills-proposed-laws/document/BILL_115767/taxation-annual-rates-for-2021-22-gst-and-remedial-matters


Legal and regulatory update for the life and health insurance sector

2 Dec 2021 – Council of Financial Regulators released its quarterly statement following the meeting held on 30 Nov 2021, with key items of discussion being cyber resilience, the role of credit unions and building societies within the financial sector, and reports of the ongoing work in the priority areas of conduct and governance and financial inclusion. The group also discussed plans for the next meeting of the Trans-Tasman Banking Council to be held in early December. https://www.cofr.govt.nz/news-and-publications/quarterly-statement-by-cofr-november-2021.html

3 Dec 2021 - FMA released CPA Australia and NZICA accredited body reports. https://www.fma.govt.nz/news-and-resources/media-releases/fma-releases-cpa-australia-and-nzica-accredited-body-reports/

3 Dec 2021 – Ministry of Justice seeks feedback on political donation rules, with submissions closing on 25 Jan 2022. https://www.justice.govt.nz/about/news-and-media/news/feedback-sought-on-political-donation-rules/


Legal and regulatory update for the life and health insurance sector

3 Sept 2021 – The Council of Financial Regulators published details of discussions undertaken at a meeting held on 31 August 2021. https://www.cofr.govt.nz/news-and-publications/cofr-meeting-31-august-2021.html

3 Sept 2021 – FMA published an FMA Story titled “Spotlight on Crypto: Using New Zealand based cryptocurrency trading platforms.” https://www.fma.govt.nz/news-and-resources/fma-stories/spotlight-on-cryptocurrency/