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Rob Everett resigns as Financial Markets Authority chief executive


Major banks and insurers now report regularly to the FMA and the Reserve Bank on how they are treating their customers, and the reviews led to the creation of the Financial Markets (Conduct of Institutions) Amendment Bill, which will require banks and insurers to treat customers fairly if they wish to keep their licences to do business.
Under Everett, the FMA concluded cases against finance company directors whose companies had failed and wiped out the savings of many older investors.
The FMA also cracked down on overseas companies using the Financial Service Providers Register to pretend they were regulated in New Zealand while selling risky financial services to unsuspecting overseas investors. ....

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New financial advice regime doesn't go far enough, Consumer says


New financial advice regime doesn t go far enough, Consumer says
15 Mar, 2021 04:00 PM
5 minutes to read
All financial advisers will now come under the same licensing regime. Photo / File
A consumer group says a new regime for financial advisers designed to put their client s interests first doesn t go far enough and its success will be highly dependent on how well it is regulated.
As
of yesterday all financial advisers will have to come under a licensed provider and sign up to a code of professional conduct.
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That will mean advisers have to disclose any conflicts of interest, commissions they are paid and limits on the companies or products they advise on. ....

New Zealand , New Zealanders , Katrina Shanks , Jessica Wilson , David Clark , Financial Service Providers Register , Financial Markets Authority , Consumer New Zealand , Financial Advice New Zealand , Doesn T , புதியது ஜீலாந்து , காற்றின ஶ்யாஂக்ஸ் , ஜெசிகா வில்சன் , டேவிட் கிளார்க் , நிதி சேவை வழங்குநர்கள் பதிவு , நிதி சந்தைகள் அதிகாரம் , நுகர்வோர் புதியது ஜீலாந்து , இல்லை டி ,