Articles tagged with 'FSLAB'
Financial services sector questioned regulation draft
28 August 2020 - New Zealand’s financial services sector raised concerns about disclosure regulations resulting in a larger volume of repetitive disclosure that could be difficult for clients to digest, submissions show.
ASB and Westpac delay licensing decision
11 December 2019 - Advisers face a further wait to discover ASB and Westpac's stance on FAP licensing under the new regulatory regime.
Legislation overload 'could have unintended consequences'
15 October 2019 - New rules of conduct for banks and insurers could be bad news for organisations already grappling with the looming implementation of the Financial Services Legislation Amendment Act, one law firm says.
Advisers may be unprepared for new regime: Johnston
6 May 2019 - Astute Financial Management CEO Sarah Johnston fears many advisers have not had “clear directions from their groups” concerning incoming changes to the Financial Advisers Act.
Advisers ask: Is it worth it?
6 May 2019 - Advisers nearing “retirement age” say they’re planning to opt out of advice rather than transition to the new regime, but not everyone is convinced it will actually happen.
Revealed: How much it cost to develop the Code
1 May 2019 - The original budget to write a new Code of Conduct for financial advisers was $150,000, but the total cost so far is more than three times that amount; and the job is still not finished.
Rules set to get a lot tougher for many advisers
29 April 2019 - I finished off before Easter talking about the health and safety experience, which is something we have been watching and involved with at some level.
Part 2: FSLAB & FADC and what it means for us RFAs
23 April 2019 - In the second part of his commentary on the recent FADC case, adviser Jon-Paul Hale says the requirements expected of advisers is likely to cause havoc.
[The Wrap] A crystal ball look at the new world of advice
12 April 2019 - Everyone is asking what's going to happen to advisers now the new regime has been passed and everyone is going to have to change their business model. Here's my take on this rather thorny question.
FADC case shows RFAs face big challenges under new laws
11 April 2019 - While it has been no surprise with the passing of FSLAB, we now have confirmation that the light at the end of the tunnel is, in fact, the oncoming train.
FSLAB gets final tick
11 April 2019 - The Financial Services Legislation Amendment Bill has been given its final nod.
Green light for new financial advice regime
5 April 2019 - The Financial Services Legislation Amendment Bill has passed its final hurdle, clearing the way for a new legislative regime for all financial advisers.
MPs laud roboadvice, client-first push in FSLAB
5 April 2019 - The Financial Services Legislation Amendment Bill may have passed its third reading without opposition – but the members of parliament who spoke in support of it showed some confusion about what the bill actually contains.
Green light for new financial advice regime
4 April 2019 - The Financial Services Legislation Amendment Bill has passed its final hurdle, clearing the way for a new legislative regime for all financial advisers.
FSLAB set to pass
4 April 2019 - The Financial Services Legislation Amendment Bill is waiting in the wings to become law.
Fidelity Life launches adviser support programme
26 March 2019 - Fidelity Life says its new adviser programme will help smooth the way to the new licensing regime.
FSLAB now next month's business
20 March 2019 - Anyone waiting for the Financial Services Legislation Amendment Bill to become law will have to hang on until at least April 2.
FSLAB: Will it be law tomorrow?
18 March 2019 - The Financial Services Legislation Amendment Bill is at number five on the parliamentary order paper Tuesday.
FSLAB jumps up order paper
15 March 2019 - The Financial Services Legislation Amendment Bill looks set to pass its third reading early next week.
Code still due in coming months
4 February 2019 - The Code Working Group is still on track to deliver a code of conduct for financial advisers to Commerce Minister Kris Faafoi early this year, its chairman, Angus Dale-Jones, says.
Govt confirms: Commission in the gun
31 January 2019 - High upfront commissions and overseas trips are in the spotlight as the government works to overhaul financial services sales incentives.
Doing nothing 'not an option'
16 January 2019 - Advisers do not need to have a definite plan yet for how they will approach the new legislative regime – but they need to engage with the process, Financial Services Council (FSC) chief executive Richard Klipin says.
Minister acknowledges slow pace of adviser laws
20 December 2018 - Commerce Minister Kris Faafoi has acknowledged some financial advisers feel the transition to the new legislative regime is taking some time to achieve.
MBIE: Most advisers will continue
12 December 2018 - The Ministry of Business, Innovation and Employment is expecting the majority of financial advisers and QFE advisers to carry on in the new regime.
Concerns retiring advisers might jump
8 November 2018 - There are fears that if financial advice rules prompt an exodus of advisers from the market, it could reduce what they can sell their businesses for.
FSLAB expected to pass by early 2019
24 October 2018 - With 18 Parliamentary sitting days left this year, the Financial Services Legislation Amendment Bill is hovering near the bottom of the order paper.
[The Wrap] The future of research; New groups coming; Milking big returns
24 August 2018 - Who will research managed funds in the future? That's a question which is live right now. Meanwhile, there's lots happening amongst the groups now that FSLAB is getting closer.
Advisers offered scholarship to upskill
10 August 2018 - A new scholarship programme has been launched to help advisers complete the qualifications that will be needed under the new regime.
Here's what officials thought of FSLAB submissions
7 August 2018 - MBIE received 72 written submissions and 33 oral submissions on the Financial Services Legislation Amendment Bill, which will bring widespread changes to financial advice. Here, we reveal what they thought of them
Select committee guidance revealed
6 August 2018 - Reports made public from the Ministry of Business, Innovation and Employment reveal what official guidance was offered to the select committee considering the Financial Services Legislation Amendment Bill.
[The Wrap] Advisers put on the (f)SLAB by MPs
3 August 2018 - One of the last comments made by an MP hearing submissions on the Financial Services Legislation Amendement Bill helps explain why we got the result we did this week when the bill was reported back to Parliament.
CWG: Code change not major overhaul
3 August 2018 - The Code Working Group is rejecting suggestions a change to the Financial Services Legislation Bill (FSLAB) will send it back to the drawing board.
FSLAB consultation 'waste of time'
2 August 2018 - Consultation on the Financial Services Legislation Amendment Bill has been labelled a sham by one industry commentator.
Select Committee told: Could do better
1 August 2018 - Recommendations from the select committee considering the Financial Services Legislation Amendment Bill have been welcomed, but Financial Advice NZ says it’s fallen short of the mark.
Select Committee told: Could do better
1 August 2018 - Recommendations from the select committee considering the Financial Services Legislation Amendment Bill have been welcomed, but Financial Advice NZ says it’s fallen short of the mark.
Committee proposes FSLAB changes
31 July 2018 - Conflict of interest, nominated representatives and what makes financial planning have come in for scrutiny by the select committee considering the Financial Services Legislation Amendment Bill. But not everyone is happy.
Six-step process
30 July 2018 - Now that you've seen a bit of what I'm thinking, you're getting the idea I'm looking to challenge the status quo somewhat.
Consultation fatigue hits advisers
7 June 2018 - New Zealand’s financial services sector is suffering “consultation fatigue” and there’s still a way to go before the new regime is formalised.
[Opinion] The future of advice is at risk
23 April 2018 - In my 30-odd years covering this financial services I don't think there has ever been a more important time for the future than right now.
The Code – issues for advisers (Part One)
17 April 2018 - This commentary looks at the new Code of Conduct and the issues, opportunities and challenges for adviser businesses. It is written by John Berry, a member of the Code Working Group (CWG), in his capacity as a commentator on NZ financial markets and as CEO of Pathfinder.
Make commission details publicly available: MBIE
10 April 2018 - Government officials have proposed advisers make information about the fees they charge and the commissions they receive publicly available.
Make commission details publicly available: MBIE
10 April 2018 - Government officials are suggesting all advisers make publicly available information about the fees they charge and the commissions they receive, so consumers can choose who they want to deal with.
Client first 'means responsible investment'
18 January 2018 - New Zealand advisers and fund managers need to consider clients’ desire for responsible investment of their money if they are to meet their duty to act in clients’ best interests, the Responsible Investment Association of Australasia says.
Stakeholders urged to submit on bill
15 January 2018 - Submitters are working to a tight timeframe to get their views in on the Financial Service Legislation Amendment Bill.
The Wrap: Bill gets yes, PAA gets no
8 December 2017 - We weren’t sure it was going to happen this side of the new year but this week the Financial Services Legislation Amendment Bill had its first reading in Parliament.
It's real; Financial adviser reforms are go
7 December 2017 - The Government has pushed the go button for significant reforms to how financial advice is delivered in New Zealand. This evening the Financial Services Legislation Amendment Bill has had its first reading in Parliament and now goes to Select Committee.
FSLAB gets promotion
4 December 2017 - Despite warnings of a delay for the Financial Services Legislation Amendment Bill, it has been bumped up Parliament’s Order Paper.
Advice bill faces year-long delay
30 November 2017 - New rules for financial advisers are likely to be delayed until the end of next year.
Faafoi: I'll listen to concerns
31 October 2017 - New Commerce and Consumer Affairs Minister Kris Faafoi says he's aware that small advice firms are worried they will lose out under the Financial Services Legislation Amendment Bill.
The Wrap: Deadlines for changes clearer (maybe)
27 October 2017 - Since this is the Weekly Wrap we thought we'd try and wrap the week up, highlighting the key news stories and looking ahead to what's happening next week. Read on to see what's on the agenda.
Your new boss revealed
25 October 2017 - Labour has revealed who will take over as Commerce and Consumer Affairs Minister.
Entity licensing 'boosts risk'
11 October 2017 - Entity licensing could increase the risk of undesirable behaviour from vertically integrated product providers, one commentator says.
Whistle-blowers more exposed under new rules
26 September 2017 - Whistle-blowers are set to lose some of their identity protection when the new financial adviser legislation comes into force.
Bill's quality and quantity aims 'a possible conflict'
13 September 2017 - A working group tasked with developing the new code of conduct for financial advisers will have to juggle two potentially competing aims of the new legislation.
New disclosure requirement could backfire
12 September 2017 - External disputes resolution schemes are worried that a new obligation requiring them to notify the Financial Markets Authority when they believe a law has been broken could lead to financial services providers being less willing to acknowledge their mistakes.
Milestone day for financial advice in New Zealand
3 August 2017 - A new bill to replace the Financial Advisers Act was to be introduced on Thursday, Commerce Minister Jacqui Dean announced at the National Advisers Conference.
Milestone day for financial advice in New Zealand
3 August 2017 - A new bill to replace the Financial Advisers Act was to be introduced on Thursday, Commerce Minister Jacqui Dean announced at the National Advisers Conference.