Legal and regulatory update for the life and health insurance sector

26 Apr 2023 - RBNZ proposes to ease mortgage loan-to-value ratio (LVR) restrictions. https://www.rbnz.govt.nz/regulation-and-supervision/oversight-of-banks/standards-and-requirements-for-banks/macroprudential-policy/loan-to-value-ratio-restrictions?utm_source=Reserve+Bank+of+New+Zealand&utm_campaign=df16efb076-lvr-april-2023&utm_medium=email&utm_term=0_-df16efb076-%5BLIST_EMAIL_ID%5D

26 Apr 2023 - IRD report finds wealthiest NZer's pay an effective tax rate of only 9.5% https://www.beehive.govt.nz/release/ird-report-shows-wealthy-nzers-pay-much-lower-tax-rates-other-earners

27 Apr 2023 - The Reserve Bank of New Zealand reminds reporting entities of AML CFT obligations following the closure of the ANZ investigation https://www.rbnz.govt.nz/hub/news/2023/04/reporting-entities-reminded-of-aml-cft-obligations-following-anz-investigation

27 Apr 2023 - Business Payment Practices Bill completed second reading https://bills.parliament.nz/v/6/c1f6efb7-814b-4def-a8d4-3b0d9407b9e2?Tab=history

28 Apr 2023 - FSC encourages financial advice license holders to start preparing now for their regulatory return reporting cycle that starts on 1 July 2023 https://blog.fsc.org.nz/life-after-licensing-start-preparing-for-30-september-2024

1 May 2023 - RBNZ release excerpt from their May 2023 Financial Stability Report talking about interest rate risk management in the NZ banking system https://www.rbnz.govt.nz/hub/publications/financial-stability-report/2023/may-2023/fsr-may-23-box-a?utm_source=Reserve%20Bank%20of%20New%20Zealand&utm_campaign=fsr-may-2023&utm_medium=email&utm_source=Reserve+Bank+of+New+Zealand&utm_campaign=fd6138dfdc-Interest+rate+risk+management+in+NZ+banking&utm_medium=email&utm_term=0_-fd6138dfdc-%5BLIST_EMAIL_ID%5D