The FSC in the Policy, Regulation & Advocacy Space March 2021

Submissions December 2020 - February 2021

• Proposed guidance on advertising offers of financial products under the Financial Markets Conduct Act 2013
• Reserve Bank of New Zealand Bill (including oral submission from the FSC to the Finance and Expenditure Select Committee on 15 February 2021).
• Review of Insurance Solvency Standards: Structure and IFRS 17
  Note: Consultations will continue up until 2023, please refer to page 5 of the Solvency Standard Review Launch for the timeline, available here.
• Risk management guidance on cyber resilience and views on information gathering and sharing.
• Proposed guidance on KiwiSaver fees and value for money.

Thank you to all those who contributed to these FSC submissions. Please contact us if you would like a copy.

Current Consultations

• Insurance (Prudential Supervision) Act 2010 (IPSA) Review
  
  This Consultation Paper is the beginning of the second stage of the RB’s review of IPSA and deals with the first two modules: scope of legislation, overseas insurers and overseas reinsurance. Several FSC Focus Groups have been held to discuss the IPSA Review in order to collate feedback to include in our FSC submission.
  
  *New Date: Submissions close on 19 March 2021.

• Climate Change Commission Draft Advice for Consultation
  
  The Climate Change Commission on 1 February 2021 released a draft of their first package of advice to Government on the actions it must take to reach net-zero by 2050 and ensure a transition to a low-emissions and climate resilient economy. Please contact us if you would like to be involved. Submissions close on 28 March 2021.