« All Events This event has passed. Wellington Regional Event – Conduct & Culture Report – Q&A with the FMA May 22, 2019 @ 9:30 am - 12:00 pm NZST « Mortgage Link Conference Wellington Regional Meeting – Conduct & Culture Report – Q&A with FMA » Off the back of the Reserve Bank and FMA Conduct & Culture report, the public discussions and media criticism appear to be more adviser-focused than insurer focused. This may be because Life Insurers have until May to respond to their individual letters from the FMA. Some have been proactive about engaging in the Licensing process, with other plans yet to be revealed. The question remains – are there blurred lines between adviser responsibilities and insurer accountability in the Conduct & Culture Report? The Wellington Regional Committee felt it was timely for an open discussion directly between advisers and the FMA about some of the ramifications of the report. For example (and without limitation): 1. Is there still a clear regulatory line between advisers being responsible for their advice and providers being accountable for how their product is distributed? 2.Is there a clear duty of care between advisers assessing their client portfolios and ensuring gaps in cover are identified and addressed; or is this now equally the responsibility of the providers who have a much broader perspective of how their products are being applied across market segments? 3.Does the FMA foresee the Life Insurers, FSC and Associations drafting a future remuneration framework as a collaborative solution; or will incentives and remuneration likely be driven by market competition? 4.The committee welcomes the submission of questions ahead of this event to jane@assura.co.nz (with these given priority on the day). Please download and read the Report (even in its entirety it’s not a difficult read) and take a moment to mull over the issues raised and questions it generates. The hyperlink is http://www.fma.govt.nz/assets/Reports/_versions/12147/Life-Insurer-Conduct-and-Culture-2019.1.pdf Venue The Conference Centre, Level 4, St John House, 114 The Terrace, WELLINGTON Presenters John Botica Director Market Engagement, and Derek Grantham Principal Consultant FMA, Katrina Shanks CEO Financial Advice New Zealand Agenda 9.30am Coffee (sponsored by FMG whose General Counsel may be in attendance) 10.00am Katrina Shanks CEO Financial Advice NZ Introduction 10.15am FMA presentation – John Botica 11.00-11.15am Q&A time – facilitated by Jane Eschenbach 12.00pm noon Finish CPD – One structured hour Compliance Cost – free to Members, this event is for Members only – strictly limited to the first 50 registered (venue size is limited). Click here to register. + Google Calendar+ iCal Export Details Date: May 22, 2019 Time: 9:30 am - 12:00 pm Venue The Conference Centre Level 4, St John House, 114 The Terrace Wellington, New Zealand Organiser Financial Advice New Zealand Phone: 0800 432 101 Email: info@financialadvice.nz Website: https://financialadvice.nz/