Legal and regulatory update for the life and health insurance sector

30 Nov 2023 - The Financial Markets Authority (FMA) has signed a Consultation Agreement with The Financial Markets Standards Board (FMSB) which formalises cooperation between the FMA and FMSB. https://www.fma.govt.nz/news/all-releases/media-releases/agreement-signed-by-fma-and-fmsb/

4 Dec 2023 - The Reserve Bank of New Zealand will fund trials which will test new ways for people, including retailers, to withdraw and deposit cash, including change and takings, at little or no cost to them. https://www.rbnz.govt.nz/hub/news/2023/11/reserve-bank-community-cash-trials-to-start-next-year

4 Dec 2023 - FMA releases ‘5 mins with the FMA’ podcast #10: What is outcomes focused regulation? https://www.fma.govt.nz/library/podcast/5-mins-with-the-fma-podcast-10-what-is-outcomes-focused-regulation/

4 Dec 2023 - The Australian Securities and Investments Commission (ASIC) and Australian Financial Complaints Authority (AFCA) have signed a memorandum of understanding (MoU) setting out how they will continue to work together to support a fair and efficient financial services sector. https://asic.gov.au/about-asic/news-centre/news-items/asic-and-afca-sign-memorandum-of-understanding/