Life insurer AIA has admitted to making false and/or misleading representations to customers and could face a fine of up to $700,000 after court proceedings were brought against the company by the Financial Markets Authority (FMA).

According to a recent survey, AA Health Insurance has won this year's Canstar Most Satisfied Customers Award.

More than 60% of New Zealanders are worried they will not have enough money to support themselves in their retirement, a new KiwiSaver study shows.

Financial services firm FoxPlan has been publically censured by the FMA after five of its representatives were found to be offering services they were not permitted to give.

Financial Advice New Zealand liability programme members will have their insurance liability extended for another month due to problems with IT systems and online premium quotations.

After numerous delays and extended rounds of consultation, the Financial Markets (Conduct of Institutions) Amendment Bill (CoFI) is heading back to Parliament.

The New Zealand insurance industry is being asked to have its say on a proposed interim Solvency Standard for insurers, which will determine the minimum amounts of capital insurers must hold.

A recent nib New Zealand campaign offering cover for pre-existing medical conditions has been the victim of its own success with advisers being asked not to supply clients medical notes due to underwriting delays.

Moves to establish a consumer data right framework for New Zealand have been met with caution by those in the finance sector but it could make life a lot easier for customers.

The FMA has fired serious warning shots at the general insurance industry saying it is not prepared for new legislation requiring them to ensure good conduct and fair treatment of customers.

Financial advisers are still wary of cryptocurrency investments but adviser experts are saying they are coming to grips with the evolving investment opportunity.

The Financial Markets Authority (FMA) has its work cut out for it over the next 12 months dealing with a range of issues from insider trading, false advertising and the CoFI Bill to cybercrime, KiwiSaver and compliance.

Westpac NZ is reducing fees on its KiwiSaver Scheme funds saying the drop will deliver significant savings for its more than 380,000 members.

A new mental health awareness platform Tools Down has been launched to raise awareness of mental health and suicide rates among Kiwi tradies with help from an AIA grant.

The Compliance Refinery is expanding its workforce and has taken on an experienced adviser advocate with more hires on the horizon.

The Reserve Bank of New Zealand is seeking feedback on the potential for a Central Bank Digital Currency as the use of cash continues to decline.