Legal and regulatory update for the life and health
27 Mar 2023 – RBNZ released an assessment of the largest banks’ residential mortgage exposures to flooding risk that has advanced the RBNZ understanding of the financial stability risks posed by climate change. https://www.rbnz.govt.nz/hub/news/2023/03/bank-flooding-risk-assessment-builds-capability-and-highlights-climate-data-gaps
23 Mar 2023 – Financial Services Council released KiwiSaver statistics for the Dec 2022 quarter. https://blog.fsc.org.nz/kiwisaver-spotlight-december-2022
23 Mar 2023 – Good Returns posted a media story titled, “Final numbers out” reporting that the Financial Markets Authority (FMA) says the transition to full licensing for financial advisers is a success with more than 2,500 financial advice providers licensed or operating as an authorised body by the deadline. https://www.goodreturns.co.nz/article/976521498/final-numbers-out.html
22 Mar 2023 – FMA posted the keynote speech presented by Samantha Barrass, FMA Chief Executive, at the IFSO Conference on Fair Conduct. https://www.fma.govt.nz/library/speeches-and-presentations/samantha-barrass-ifso-conference-march-2023/
20 Mar 2023 – InvestmentNews New Zealand posted a media story titled, “Adviser, FAP numbers consolidate as regime goes full-steam” containing information on the number of Financial Advice Providers, Financial Advisers and Nominated Representatives. https://investmentnews.co.nz/investment-news/adviser-fap-numbers-consolidate-as-regime-goes-full-steam/
15 Mar 2023 – Department of Internal Affairs posted information on the international Financial Action Task Force (FATF) updated list of Jurisdictions under Increased Monitoring for AML/CFT purposes. https://www.dia.govt.nz/AML-CFT-List-of-Jurisdictions-under-Increased-Monitoring