News

See articles and updates on topical issues, together with information sheets, brochures, annual reports, reviews and other resources in our document library.

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'Finfluencer' guide announced

The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko - has released a guide to talking about money online following concerns some social media influencers and bloggers may be straying into regulated financial advice.



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Icy weather causes fire warning

Insurance and Financial Services Ombudsman, (IFSO), Karen Stevens says the cold weather is a timely reminder for people to check their use of appliances and their insurance policies.


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New CCCF Act to drive a culture of compliance from the top down

Directors and senior managers of lenders (including some mobile traders) must comply with the Credit Contracts and Consumer Finance Act 2003 (CCCF Act) from 1 October 2021.

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Canterbury floods - are you making a claim?

Insurance and Financial Services Ombudsman (IFSO), Karen Stevens, has important tips for people facing the task of setting their homes to rights.

-Rob Stock, Stuff, Monday 1 June 2021

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Need help with your finances? Find a financial mentor

Here is a great example of the value of financial mentors - helping people navigate financial hardship. To complain about hardship decisions made by lenders, contact us at info@ifso.nz

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Canterbury flood residents: document the damage before you clean up

After the severe flooding in Canterbury, we urge affected residents to photograph the damage, and contact your insurer before you clean up.

- Story from The Star, 31 May 2021


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$43K ute repossessed

The CCCFA sets out lender responsibilities for consumer protection. When Charlie, who was terminally ill, couldn't repay a $43,000 loan, his ute was repossessed. The lender made mistakes, which displayed unfortunate conduct, particularly given Charlie’s vulnerabilities.


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Covid & business interruption

In most cases, the Business Interruption cover would not respond, because there was no material damage. Standard business interruption exclusions for infectious diseases were triggered when COVID-19 became publicly notifiable.


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Covid and travel insurance

The idea of purchasing travel coverage for a reasonable price in future may be at risk, given the enormous pressure on the travel insurance industry. Does insurance need a new paradigm for known risk?


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Fit and Proper Person Certification starts 1 October 2021

Under the Credit Contracts and Consumer Finance Act 2003 a Fit and Proper Person register is being introduced.

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FMA Financial Adviser licensing guide

On Monday, 17 November, the FMA and Financial Advice NZ will launch a full licensing application guide for Advisers. The guide will cover licensing standards across seven conditions including record keeping and internal complaints processes.

Story from Good Returns: 12 November, 2020

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Napier residents: contact your insurer before you clean up

In the aftermath of devastating flooding and landslips, we urge Napier residents to take care at home and on the road, photograph the damage, and contact your insurer before you clean up.

Photo from Newshub: 11 November, 2020

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