Financial Services Council End of Year Celebration: Wellington

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Location

ANZ Centre

171 Featherston Street

Wellington, Wellington 6011

New Zealand

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Sales Have Ended

Registrations are closed
This event has now sold out - please contact fsc@fsc.org.nz or call 09 985 5762 if you need help.
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PLEASE NOTE THE VENUE FOR THIS EVENT HAS CHANGED TO ANZ CENTRE, 171 FEATHERSTON STREET, WELLINGTON (NOT TORY STREET AS PREVIOUSLY ADVERTISED).

Join us to delve into the Government's latest announcements about the conduct of financial institutions, the FMA's latest KiwiSaver Annual Report and an end of year celebration.

The event starts at 4.00pm in the ANZ offices on Fetherstone Street, Wellington with a review of COFI and KiwiSaver followed by drinks.

Regulating conduct of financial institutions

Hon Kris Faafoi announced that the Government will be introducing new legislation which will require banks, insurers and other financial institutions to put systems in place to make sure they treat customers fairly.

The measures announced included:

  • a new conduct licensing system for banks, insurers and non-bank deposit takers such as credit unions.
  • the new regime requiring these entities to meet high standards of customer treatment.
  • a ban on incentives which are based on meeting sales targets.

The new regime will be backed by strong enforcement tools, including giving the Financial Markets Authority the ability to direct licensed institutions to change behaviour, improve their systems and processes, as well as suspend or vary the conditions of a licence.




KiwiSaver Annual Report 2019

The Financial Markets Authority released the latest KiwiSaver Annual Report, a valuable annual temperature check of the KiwiSaver system, how the scheme is evolving and what remains a work in progress.

The report shows a growth of KiwiSaver members to nearly 3 million with $57 billion of assets invested in the scheme. More consumers are making active choices and updating their KiwiSaver settings, and the report highlights a concern that fee levels have not reduced as expected.




Agenda

4.00pm - Welcome
4.15pm - Liam Mason, Director of Regulation, Financial Markets Authority and Sharon Corbett, Manager Financial Markets at MBIE
4.45pm - Panel discussion and Q&A followed by end of year drinks



Liam Mason, Director of Regulation, FMA

Liam leads and oversees the licensing and supervision of all financial markets participants, from individual AFAs through to KiwiSaver providers. He is also responsible for the FMA’s compliance frameworks, contacts, and intelligence functions.

Liam has extensive experience in securities law and corporate governance matters, advising on securities and financial services law and policy, Crown entity governance and legal compliance.



Sharon Corbett, Manager Financial Markets, MBIE

Sharon manages the financial markets policy team at MBIE, which includes responsibility for the new financial advice regime, the recently announced reforms to regulate the conduct of financial institutions, and the current KiwiSaver default provider review.



Register today to join the Wellington event on Tuesday 26 November 2019, or join us at our Auckland End of Year Celebration on Friday 6 December 2019 by registering here.



Date and Time

Location

ANZ Centre

171 Featherston Street

Wellington, Wellington 6011

New Zealand

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