Legal and regulatory update for the life and health insurance sector

17 Apr 2025 - RBNZ’s Assistant Governor/General Manager Strategy, Engagement and Sustainability Simone Robbers will be leaving at the end of May 2025 after six years in the role. https://www.rbnz.govt.nz/hub/news/2025/04/ag-gm-strategy-engagement-and-sustainability-leaving-rbnz

23 Apr 2025 - CoFR has released a joint Issues Paper on Access to Basic Transaction Accounts. CoFR is seeking feedback on the proposed introduction of basic transaction accounts to better support customer groups that are currently excluded. The consultation will remain open for eight weeks and will close on 18 June 2025. https://www.cofr.govt.nz/news-and-publications/cofr-seeking-feedback-on-access-to-basic-transaction-accounts.html

23 Apr 2025 - NZ Police Financial Intelligence Unit release “The CASH Report” for March 2025. https://www.police.govt.nz/sites/default/files/publications/fiu-monthly-report-mar2025.pdf

23 Apr 2025 - Banks are updating their Code of Banking Practice with five new commitments to better protect customers from scams. The five commitments introduced to the New Zealand Banking Associate Code of Banking Practice include:

• a Confirmation of Payee service for customers to check that the name of the person they are paying matches the account number, which has already commenced roll-out

• pre-transaction warnings to consumers based on the payment purpose

• identification of and response to high-risk transactions or unusual account transaction activity, and the ability to block or delay transactions in some cases

• providing a 24/7 reporting channel for customers who think they’ve been scammed, and responding to protect accounts

• sharing scammer account information with other banks to help prevent criminal activity, and freezing funds where appropriate

The updated Code comes into force on 30 November 2025. 

https://www.beehive.govt.nz/release/better-compensation-scam-victims

23 Apr 2025 - The FMA release ‘5 mins with the FMA’ podcast #12: Access to Financial Advice Review. https://www.fma.govt.nz/library/podcast/5-mins-with-the-fma-podcast-12-access-to-financial-advice-review/

Proposed changes to Health and Safety Laws

You may have seen the proposed changes to Health and Safety laws, whereby the government wants to reduce compliance costs and provide greater certainty for businesses. Bell Gully have a good summation of the proposed reforms here, but basically the Government is endeavouring to reduce the compliance burden, clarify health and safety duties (including limiting obligations for small, low-risk businesses) and clarify the distinction between governance and operational health and safety responsibilities.

There are many opposing points of view on the changes. Council of Trade Unions president Richard Wagstaff has said

"It's disappointing to see the minister has ignored the widespread consensus on what New Zealand needs to do to improve its poor track record and instead has chosen to carve out small businesses from good health and safety practices.

Exempting small businesses from best practice health and safety makes no sense when we know that small business are riskier and need more support."

Institute of Directors general manager Guy Beatson said

"Clarifying that boards are accountable for risk management and safety culture - not hands-on management - will mean directors can better focus on their core governance role without inadvertently overstepping."

Mike Cosman, chair of the Institute of Safety Management said

"The reforms are focused instead on costs to businesses of prevention and not the much greater costs of harm.

This seems to be looking through the wrong end of the telescope to us because the cost of our poor health and safety record is north of $4.9 billion per year to say nothing of the impact on workers and their families."

Russell Hutchinson has taken a look at the proposed regulations and put in his two cents.

As a country we have a not-terrible, but not-so-good track record on health and safety. One measure is fatal accidents, here I have selected countries we often use in comparisons:

Clearly, we are not as bad as, say, the United States. If we delved into that we would see significant variation on a state-by-state basis – but let’s not worry about that for now. Compared to Australia, for roughly every three people who die in a workplace accident there, four will die here. Not so good. What’s surprising is how well the UK performs – better than France and much of the EU, and better than Japan, places I normally consider to be better organised and more prescriptive in terms of employee protections. Not so! I like it when we find good data which challenges my pre-existing view. It’s a reward for paying attention to the data.

Are the proposed changes to governance liability right or wrong? One argument could be that by reducing liability on directors the workplace will become less safe. Another view is that by ensuring we place responsibility on the people who are closest to the problem we will better target the point at which better decisions can be made. Probably we will not know which until we have seen this operate for some time. Progress always seems to be so slow. Incentives also count – and the role of ACC, which has many benefits to our economy, also has some negative effects, somewhat masking the price signal in this case. I wonder if that will also get talked about.

More news:

Russell Hutchinson explains Non-Pharmac medicines coverage

AIA introducing a new excess option to AIA Private Health

AIA have updated Rules to Reinstate Policies

FSC Workplace Savings Half-Yearly Function 2025 is on 21 May

Financial Advice NZ are holding a 'Community of Practice: Central District' on 29 April

How to reduce chronic inflammation in your body

Eating well and getting regular exercise are most effective longevity tactics

Report finds deposit insurance scheme could see deposit interest rates fall significantly

Commerce Commission puts banks’ clawbacks, conversions and disincentives under scrutiny

Health Infrastructure Plan released, which sets out a national, long-term approach to renewing and expanding public health facilities

nib research finds more adults are staying on top of essential health screenings

Recent nib research has found that more adults are staying on top of essential health screenings, but costs remain a barrier. The research was carried out in February 2025 and surveyed 1,010 Kiwi, building on the last survey conducted in December 2023. Some of the key findings include:

• An increasing number of adults are keeping up with necessary health screenings - up to date with eye checks (45% up from 43%), dental check-ups (36% up from 35%), and heart health screenings (31% up from 28%).

• 30% believe their health is better than their peers, up from 25% in 2023.

• Financial concerns are increasingly preventing Kiwi adults from accessing health checks, with 36% citing cost as a barrier (up from 29%).

• 80% of those with health insurance are committed to health screening checks (vs 72% overall).

• More parents feel clear about which screening checks their children need (72% up from 58% in 2023).

• More parents believe an annual health check is essential for their children (84% up from 75% in 2023).

• More children are staying up to date with common screening tests - hearing checks (54% up from 48%), dental check-ups (66% up from 55%), eye checks (57% up from 50%) and general health exams (59% up from 57%).

Rob Hennin, Chief Executive Officer at nib New Zealand, said

“Proactive health screenings can be lifesaving and it’s really encouraging to see that Kiwi are taking the reins when it comes to their wellbeing. It’s clear to see that accessibility and cost issues continue to be barriers.”

More news:

Jason Gunn announced as new AIA Vitality Ambassador

Gallagher introduce new fundraising initiative, Gallagher Club Kickback

Partners Life go live with “no signature required” for majority of policy administration processes

mySolutions roadshows run across May in Hamilton, Wellington, Christchurch and Auckland

mySolutions webinar 'Exclusive Small Business Group Health' is on 23 April

Financial Advice NZ are holding an Ethics Workshop on 8 May

TAP webinar 'Ready to see TAP in action?' 8 May

Westpac launches a pilot for a basic transactional bank account

Banking Reform Coalition wants FMA to get tough on banks not passing on OCR cuts in mortgage rates immediately

Legal and regulatory update for the life and health insurance sector

1 Apr 2025 - The RBNZ Board is in the process of preparing a recommendation for the appointment of a Governor for six months and will be sending it to the Minister soon. https://www.rbnz.govt.nz/hub/news/2025/04/process-for-the-appointment-of-a-governor-for-a-six-month-term

2 Apr 2025 - FMA announce a review of the advice sector to help drive better outcomes for industry and consumers. It will focus on four key themes, which are:

1. Consumer preferences and demographics

2. Industry business models

3. Digital advice and innovation

4. Ease of provision of financial advice

https://www.fma.govt.nz/news/all-releases/media-releases/fma-unveils-review-into-financial-advice-accessibility/

2 Apr 2025 - The FMA release a Regulatory Returns snapshot for 1 July 2023 – 30 June 2024. Key statistics (as of 30 June 2024)

• 1410 licensed financial advice providers submitted regulatory returns

• 8472 financial advisers compared to 9300 in 2021

• Life and health insurance are the most common financial products advice is provided on

• 36 FAPs are providing digital advice and 86,500 retail clients received digital advice

• 97% of complaints received were settled within 3 months.

https://www.fma.govt.nz/library/reports-and-papers/financial-advice-providers-industry-snapshot/

2 Apr 2025 - The FMA publish Samantha Barrass' speech from the Financial Advice New Zealand Conference. https://www.fma.govt.nz/library/speeches-and-presentations/financial-advice-new-zealand-conference/

2 Apr 2025 - The FMA release Jess Learns to Invest Episode 3 | Understanding Managed Funds with Tom Hartmann. https://www.fma.govt.nz/library/podcast/jess-learns-to-invest-episode-3/

3 Apr 2025 - APRA has accepted a Court Enforceable Undertaking from Australia and New Zealand Banking Group (ANZ) to address ongoing weaknesses in the bank’s non-financial risk management practices and risk culture. https://www.apra.gov.au/news-and-publications/apra-accepts-court-enforceable-undertaking-from-anz-and-increases-capital-add

4 Apr 2025 - Minister of Commerce and Consumer Affairs, Hon Scott Simpson, March 2025 diary released with the following potential financial services sector related meeting noted:

• 6 Mar 2025 – MEET: Commerce Commission Chair and CE (Dr John Small, Adrienne Meikle)

• 10 Mar 2025 – MEET: NZ Banking Association CE (Roger Beaumont)

• 10 Mar 2025 – MEET: FMA Chair and Acting CE (Craig Stobo and Liam Mason)

• 10 Mar 2025 – MEET: Financial Services Stakeholders (Carl Blanchard & invited guests)

• 10 Mar 2025 - SPEAK: Financial Services Forum

• 11 Mar 2025 – SPEAK: Fintech Hui

• 13 Mar 2025 – MEET: Financial Ombudsman Reviewer (Nanette Moreau)

• 18 Mar 2025 -MEET: Financial Services Council CE (Kirk Hope)

• 18 Mar 2025 – MEET: ASB CEO (Vittoria Short, Louise Griffin)

• 19 Mar 2025 – MEET: FAMNZ (Leigh Hodgetts)

• 24 Mar 2025 – MEET: NZBA (Roger Beaumont and Dan Huggins)

• 25 Mar 2025 -MEET: CE of Westpac (Catherine McGrath)

• 26 Mar 2025 – MEET: Banking Ombudsman CE and Chair (Nicola Sladden and Miriam Dean)

• 26 Mar 2025 – MEET: Retirement Commissioner (Jane Wrightson)

• 27 Mar 2025 – MEET: FINCAP (Jake Lilley, Fleur Howard)

• 27 Mar 2025 – MEET: Financial Service Federation (Katie Rawlinson)

• 28 Mar 2025 – ATTEND: NZ Banking Assoc Council

• 31 Mar 2025 - MEET: Suncorp CEO (Jimmy Higgins)

https://www.beehive.govt.nz/sites/default/files/2025-04/Proactive%20Diary%20Release%20Simpson%20Mar%2025%27%20.pdf

4 Apr 2025 - The Council of Financial Regulators (CoFR) held its quarterly meeting on Monday 24 March 2025. The Council discussed the key external factors that could impact the financial system, noting in particular the rapid developments in artificial intelligence and ongoing geopolitical uncertainty. The Council reviewed developments in New Zealand’s payments system and noted the importance of upcoming developments like the passage of the Customer and Products Data Bill. https://www.cofr.govt.nz/news-and-publications/quarterly-statement-by-cofr-march-2025.html

4 Apr 2025 - The FMA have published their fair conduct programme insights report. https://www.fma.govt.nz/library/reports-and-papers/fair-conduct-programme-insights-report/

7 Apr 2025 - The RBNZ is welcoming applications to the Exchange Settlement Account System (ESAS) under new access criteria announced on 31 March 2025. https://www.rbnz.govt.nz/hub/news/2025/04/rbnz-welcomes-new-applications-to-the-exchange-settlement-account-system

Legal and regulatory update for the life and health insurance sector

31 Mar 2025 - The Conduct of Financial Institutions (CoFI) regime came into full effect today. 77 financial institutions have been licensed by the FMA - 17 banks, 46 insurers and 14 non-bank deposit takers (credit unions, building societies and some finance companies). https://www.fma.govt.nz/news/all-releases/media-releases/cofi-regime-in-effect/

31 Mar 2025 - The RBNZ appeared before the Finance and Expenditure Committee (FEC) for their banking inquiry and discussed the wide range of initiatives underway to support and improve competition in the banking sector. https://www.rbnz.govt.nz/hub/news/2025/03/rbnz-outlines-work-to-support-competition

31 Mar 2025 - The Council of Financial Regulators (CoFR) has published their Regulatory Initiatives Calendar for Q1 2025. https://www.cofr.govt.nz/files/regulatory-initiatives-calendar/regulatory-initiatives-calendar-q1-2025.pdf

31 Mar 2025 - Parliament has indicated that IPP3A will come into force on 1 May 2026, and all organisations will need to have their systems in place to meet the new requirements by then. The Office of the Privacy Commissioner is aiming to have the guidance developed and published on their website to allow organisations plenty of time to implement the requirements of the new Act. https://privacy.org.nz/news/statements-media-releases/the-privacy-amendment-bill-is-coming-soon-heres-what-you-need-to/

31 Mar 2025 - The RBNZ is opening access to its Exchange Settlement Account System (ESAS) following a comprehensive public consultation. The new criteria will open ESAS eligibility to more non-bank entities in two phases:

• First, to licensed non-bank deposit takers (NBDTs) in New Zealand; and

• Second, to other entities that meet the access criteria. This may include payment service providers, overseas deposit takers and operators of designated Financial Market Infrastructures (FMIs)."

https://www.rbnz.govt.nz/hub/news/2025/03/rbnz-expands-access-to-the-exchange-settlement-account-system

31 Mar 2025 - APRA has released its private health insurance risk equalisation statistics publication for the 2023/24 financial year. https://www.apra.gov.au/news-and-publications/apra-releases-private-health-insurance-risk-equalisation-statistics-for-4

31 Mar 2025 - Credit Contracts and Consumer Finance Amendment Bill introduced into Parliament. https://bills.parliament.nz/v/6/6193a33c-40d6-4354-0d5a-08dd6ff875cc?Tab=history

31 Mar 2025 - Financial Markets Conduct Amendment Bill introduced into Parliament. https://bills.parliament.nz/v/6/8c9fe069-724a-4200-0d58-08dd6ff875cc?Tab=history

31 Mar 2025 - Financial Service Providers (Registration and Dispute Resolution) Amendment Bill introduced into Parliament. https://bills.parliament.nz/v/6/a4d89cb0-ce82-4d28-0d59-08dd6ff875cc?Tab=history

Fidelity Life celebrates its latest 20 Career connect graduates

Last week, Fidelity Life held a celebration to honour its latest 20 Career Connect graduates. Each graduate has successfully completed their Level 5 qualifications in life, disability, and health insurance.  

• Anna Devereux; Women in finance scholarship recipient (Dunedin)

• Ashlee Cuttance (Dunedin)

• Awhina Scott; Pounamu scholarship recipient (Christchurch)

• Briar Evans (Auckland)

• Caitlin Hayward (Morrinsville)

• Christabel Bertie (Auckland)

• Grace McIntyre; Rural scholarship recipient (Dunedin)

• Harpreet Rehal (Auckland)

• Jenny Silva; Kōwhai scholarship recipient (Queenstown)

• Kim Forsythe (Invercargill)

• Kirsty Gobbie (Auckland)

• Leean Te (Auckland)

• Marna Breetzke; Pāua scholarship recipient (Auckland)

• Matthew Roxburgh (Dunedin)

• Myja Gregory (Auckland)

• Namrata Kumar (Auckland)

• Shiwangni Mala (Auckland)

• Sydnee Taylor; Toe Toe scholarship recipient (Christchurch)

• Taylah Marr; Rāngi Po scholarship recipient (Christchurch)

• Vanessa Jones-Dutton (New Plymouth)

This year, 95% of Career connect graduates were women, and a quarter of the group identifies as Māori or Pasifika.

Michelle Doyle, Head of Solutions said

"More than 60% of the graduates who asked for introductions to adviser businesses have already landed jobs, excited to start careers that help New Zealanders protect what matters most.”

Since its inception in 2023, Career connect has had more than 200 registrations for 70 course places, welcomed 47 students and helped almost 40 people gain their Level 5 qualifications in life, disability, and health insurance.

Submissions to be part of the 2025 intake of Career connect closed earlier this month with nearly 70 applications from a diverse group of candidates across various ages, genders, and cultural backgrounds. 

More news:

Expressions of interest for Partners Life New Adviser Training Course open

The latest issue of ASSET features Katrina Church on FMA monitoring visits, Naomi Ballantyne discussing the year ahead for the life insurance industry and Russell Hutchinson on the challenges of insurance retention

mySolutions webinar 'Navigating the future ' 2 April

FSC webinar 'How financially resilient are Kiwis?' 29 April

Adviser refunds income protection premiums in FSCL dispute

Steve Wright considers issues posed by FSCL dispute

Study finds insurers rate inflation, recession, market volatility, geopolitical tensions and AI adoption as macroeconomic threats

Minister says country on track to have open banking operational by the end of the year, with regulations specific to the sector to be confirmed in the coming weeks

Legal and regulatory update for the life and health insurance sector

23 Mar 2025 - The FMA now publishes monthly market engagement undertaken by the FMA on their website. https://www.fma.govt.nz/business/

25 Mar 2025 - New research commissioned by the RBNZ has highlighted barriers that can prevent some New Zealanders from opening bank accounts. The research, titled First steps to financial inclusion, explored opening bank accounts from the perspective of frontline bank staff and customers. It found that certain groups were reported to be most likely to find it difficult to open a bank account, including recent migrants, rural communities, the elderly, people with disabilities, and trusts (including Māori trusts). https://www.rbnz.govt.nz/hub/news/2025/03/new-report-suggests-that-collective-action-is-needed-to-improve-access-to-bank-accounts

25 Mar 2025 - Customer and Product Data Bill completes third reading. https://bills.parliament.nz/v/6/770A5F4E-2185-4F1F-1395-08DC75512299?Tab=history

26 Mar 2025 - The FMA are consulting on a range of class exemption that are due to expire before the end of 2026.  https://www.fma.govt.nz/business/focus-areas/consultation/expiring-class-legislative-notices/

27 Mar 2025 - The committee stage of the Privacy Amendment Bill was completed. https://bills.parliament.nz/v/6/56e3fbe7-1f3d-464e-b54d-08dbae8917ae?Tab=history

27 Mar 2025 - The Chief Ombudsman Peter Boshier has released his final report to Parliament. https://www.ombudsman.parliament.nz/news

Product and pricing changes at Partners Life

Partners Life have announced a range of product changes, effective from 15 March 2025, aimed at giving customers more flexibility and the option to remove features if they don’t want to pay for them.

• The built-in Total and Permanent Disability (TPD) Benefit will become a TPD Option. If a client opts out of TPD, the premium for their monthly disability cover will reduce accordingly. This change applies to Mortgage Repayment Cover, Household Expenses Covers and Income Cover Agreed Value, Agreed Loss of Earnings and Indemnity Loss of Earnings.

• They have made changes to Trauma Cover and Moderate Trauma Cover for clients who have suffered an out of hospital cardiac arrest. They have removed obsolete medical requirements, and added current diagnostic tools used by medical staff to confirm a cardiac arrest has occurred. The wording has been updated to allow for new and future diagnostic tools.

• They have updated Trauma, Moderate Trauma and Severe Trauma Cover wordings to let clients know that Partners Life will notify them when they can exercise their Life Cover or Deferred Trauma Cover buy-back options.

Any beneficial enhancements to policy wordings are automatically applied to existing in-force policies under the Guaranteed Upgrade of Future Benefits feature.

In addition to the product changes, Partners Life have reviewed premiums, in light of increased volume and cost of medical claims. Premiums for Private Medical Cover including Specialists and Tests Option will increase by 18% and the policy fee will increase from $58.08 to $64.13 per annum, both from 22nd April 2025.

More news:

FSC25 Conference: Transforming for Tomorrow is on 10 - 11 September in Auckland

The Rising Stars in Insurance Seminar expands to more cities

Managing risks posed by Artificial Intelligence in the banking Sector

70% of NZ CEOs say AI has increased efficiencies in their employees’ time at work

Steve Wright on potential implications of government’s plan to use private health care facilities for public health treatments

Good Returns has an interesting article by Steve Wright considering some of the implications of what may happen if the government goes ahead with their reported plan to consider using private health care facilities to reduce elective surgery waiting lists. Aside from the obvious benefits of kiwis on public health waiting lists potentially getting treated quicker, Wright considers some potential downsides, from reduced pressure to improve public sector capacity, to the private sector becoming overwhelmed or people ditching their health insurance and the private sectors viability coming into question.

We think these risks are low, given the scale of the intervention proposed by Minister Brown – just $50m to be spent between March and the end of June. For context, ACC will purchase around $500m in surgery in the 2023/24 year, and the total New Zealand Health budget is circa $16.6 billion. For an individual who gets a needed surgery a little faster, we are delighted, but this intervention is unlikely to make a big impact.

More news:

Partners Life new training module ‘Fair Treatment of Customers’

Fidelity Life offers drought-affected Taranaki customers premium relief

The FMA is on track to approve 77 licence applications under CoFI regime

Finance Minister Nicola Willis is reassessing the capital held by banks

Legal and regulatory update for the life and health insurance sector

3 Dec 2024 - On 5 December, the RBNZ will publish new statistics from the monthly New Credit Flows Survey. The New Credit Flows Survey collects data from registered banks on new lending during the month and its associated weighted average interest rates. This means from 5 December, monthly data will be available that reflects the actual interest rates being taken by customers month-to-month on new residential mortgage loans.

3 Dec 2024 - New Zealanders made a record 1003 privacy complaints to the Office of the Privacy Commissioner last financial year. Agencies (business and organisations) also reported 864 privacy breaches. https://privacy.org.nz/publications/statements-media-releases/no-one-should-be-happy-we-received-over-1000-privacy-complaints/

4 Dec 2024 - The FMA has published its Climate-Related Disclosures insights report from the first set of entities that were required to file climate statements.  https://www.fma.govt.nz/news/all-releases/media-releases/fma-encouraged-by-first-climate-statements/

4 Dec 2024 - Australia has passed two major pieces of privacy law reform: the Australian Privacy and Other Legislation Amendment Bill 2024 and the Online Safety Amendment (Social Media Minimum Age) Bill 2024. https://www.bellgully.com/insights/privacy-update-australian-government-passes-two-major-pieces-of-privacy-law-reform/

4 Dec 2024 - The annual re-weighting of the Trade-Weighted Index (TWI) takes effect on 5 December, with the new weights released. The TWI is a weighted average of the New Zealand dollar against the currencies of New Zealand’s major trading partners. There are 17 currencies included in the TWI basket. The weights are calculated using a fully bilateral trade-weighted methodology. The weight for each currency is based on each country’s direct bilateral trade in goods and services with New Zealand, for the year ended June. https://www.rbnz.govt.nz/hub/news/2024/12/updated-weights-for-trade-weighted-index

5 Dec 2024 - APRA has released its general insurance and life insurance statistical publications for the September 2024 quarter. https://www.apra.gov.au/news-and-publications/apra-releases-quarterly-general-insurance-and-life-insurance-statistics-for

5 Dec 2024 - APRA has released a response to consultation on proposed minor amendments to the prudential framework for authorised deposit-taking institutions (ADIs), insurers and registrable superannuation entity (RSE) licensees. https://www.apra.gov.au/news-and-publications/apra-releases-response-to-consultation-on-minor-amendments-to-prudential-2

5 Dec 2024 - The Government has launched a review of New Zealand’s competition rules, looking to update the competition settings in the Commerce Act to ensure NZ's legal framework is right; and review the governance and effectiveness of the Commerce Commission to ensure NZ's regulatory and enforcement framework is right. https://www.beehive.govt.nz/release/major-review-competition-lift-productivity

6 Dec 2024 - The Retirement Commissioner Jane Wrightson says the Commission’s annual budget has remained unchanged since 2016 and the Commission will be using its financial reserves over the next four years to run the organisation. https://www.interest.co.nz/investing/131130/retirement-commissioner-jane-wrightson-says-commission%E2%80%99s-annual-budget-has

9 Dec 2024 - The Reserve Bank of New Zealand welcomes the new Financial Policy Remit. https://www.rbnz.govt.nz/hub/news/2024/12/rbnz-welcomes-new-financial-policy-remit

10 Dec 2024 - The FMA is launching a pilot “regulatory sandbox” and is asking for applications from interested parties. A regulatory sandbox is a concept which allows firms to test innovative products, services or business models.  An initial pilot phase will run from January to July 2025, with a decision on the need for a permanent FMA regulatory sandbox to be made later in the year.  https://www.fma.govt.nz/library/opinion/fma-launches-regulatory-sandbox-pilot-for-2025/

10 Dec 2024 - RBNZ's Digital Cash consultation finds cash is crucial and current payment options are not delivering what customers want. https://www.rbnz.govt.nz/hub/news/2024/12/kiwis-say-cash-and-privacy-are-crucial-in-record-digital-cash-consultation-response

10 Dec 2024 - RBNZ has published Tara-ā-Umanga Business Expectations Survey: Development update following third pilot. They plan to run a fourth pilot in January 2025.  https://www.rbnz.govt.nz/-/media/project/sites/rbnz/files/publications/bse-background-material/bes-development-update-pilot3.pdf?utm_source=Reserve+Bank+of+New+Zealand&utm_campaign=8347780dcb-Stats+Alert+Business+Survey+of+expectations&utm_medium=email&utm_term=0_-8347780dcb-597079373

11 Dec 2024 - The RBNZ has released a thematic review into how deposit takers support financial inclusion. The review provides an overview of the practices and initiatives deposit takers have introduced to support financial inclusion. https://www.rbnz.govt.nz/hub/news/2024/12/rbnz-thematic-review-identifies-opportunities-to-enhance-financial-inclusion-practices

11 Dec 2024 - Minister of Commerce and Consumer Affairs, Hon Andrew Bayly November 2024 diary released with the following potential financial services sector related meetings noted:

• 4 Nov 2024 – MEET: Financial Markets Authority (FMA Officials)

• 5 Nov 2024 – ATTEND: Launch of Australasian Open Banking eco system report (invited guests)

• 7 Nov 2024 – MEET: NZBA (Roger Beaumont, Miles Erwin)

• 7 Nov 2024 – CALL: Banking Ombudsman (Miriam Dean)

• 11 Nov 2024 – MEET: Kiwisaver Roundtable (invited guests)

• 11 Nov 2024 – MEET: CEO of Financial Services Council (Kirk Hope)

• 13 Nov 2024 – MEET: FMA (Craig Stobo and Samantha Barrass)

• 13 Nov 2024 – MEET: MBIE Officials (Suzanne Stew)

• 20 Nov 2024 – MEET: NZBA (Dan Huggins)

• 20 Nov 2024 – MEET: MBIE Officials (MBIE officials)

• 21 Nov 2024 – SPEAK: NZ & Australia Chartered Accontants Conference (conference attendees)

• 21 Nov 2024 – MEET: Commerce Commission Meeting (Commerce Commission Officials)

• 22 Nov 2024 – MEET: Securities Industry Association and FMA (Tim Kiefte, Bridget MacDonald, Craig Stobo, Samantha Barrass and SIA members)

• 27 Nov 2024 – PHONE: Retirement Commissioner (Jane Wrightson )

https://www.beehive.govt.nz/sites/default/files/2024-12/Proactive%20Diary%20Release%20Nov%2024%27%20Hon%20Andrew%20Bayly.pdf