News Centre

New Zealand Financial Markets Authority: Vero To Pay $3.9 Million Penalty For Making False And Misleading Representations To Customers About Multi-Policy Discounts

Date 12/10/2023

The Auckland High Court has ordered Vero Insurance New Zealand Limited (Vero) to pay a penalty of $3.9 million for failing to apply multi-policy discounts to customers, following proceedings brought by the Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko. 

Opening Statement By ASIC Chief Executive Officer, Warren Day At The Senate Financial And Public Administration References Committee Inquiry Into Management And Assurance Of Integrity By Consulting Services, 12 October 2023

Date 12/10/2023

I am pleased to appear before the Committee today and to provide this short opening statement. My name is Warren Day and I’m the Chief Executive Officer of ASIC joining you from Melbourne. I am joined by our General Counsel, Chris Savundra, Executive Director, Greg Yanco, and Senior Executive Leader, Kate Metz in front of you, in Canberra.

‘The Princess And The Pea’: Getting The Basics Right In Insurance - Speech By ASIC Deputy Chair Karen Chester At The Insurance Council Of Australia (ICA) Annual Conference, 12 October 2023

Date 12/10/2023

KEY POINTS

• ASIC is calling for action from insurers across the industry to get the basics right for insurance pricing promises, product design and distribution, and claims handling.
• Getting the basics right first is an important prerequisite for insurers to have the latitude to explore innovative technologies and product design, artificial intelligence, and intelligent automation – which in turn will help them to address structural challenges facing the industry.
• Boards have an important role to play to take whole of business accountability for getting the basics right.

New Zealand Financial Markets Authority: Kiwibank To Pay $812,500 Penalty For Making False And Misleading Representations To Customers

Date 12/10/2023

Kiwibank has been ordered to pay a $812,500 civil penalty at the High Court in Wellington for making false and/or misleading representations to some customers, following proceedings brought by the Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko. 

Fiserv To Release Third Quarter Earnings Results On October 24, 2023

Date 11/10/2023

Fiserv, Inc. (NYSE: FI), a leading global provider of payments and financial services technology solutions, will announce its third quarter financial results before the market opens on Tuesday, Oct. 24, 2023.

CFTC Commissioner Johnson To Give A Keynote And Participate In A Fireside Chat At The Symposium On Derivatives And Financial Regulation In Montreal, Canada

Date 11/10/2023

In-Securities: What Happens When Investors In An Important Market Are Not Protected? Remarks To The Center For American Progress, SEC Commissioner Caroline A. Crenshaw, Washington D.C., Oct. 11, 2023

Date 11/10/2023

Thank you, Emily, for your kind introduction. I’m grateful to you and the Center for American Progress for organizing the event, as well as for the invitation to speak to you today. The topic of the event is timely. Private markets are an increasingly large portion of the overall markets. That means solutions to any of the most important issues in the markets today will naturally require consideration of the private markets and the assets that trade in them.

Minutes Of The Federal Open Market Committee, September 19-20, 2023

Date 11/10/2023

The Federal Reserve on Wednesday released the minutes of the Federal Open Market Committee meeting that was held on September 19–20, 2023.

Ontario Securities Commission Announces Market Structure Advisory Committee Members

Date 11/10/2023

The Ontario Securities Commission (OSC) announced today the membership of the Market Structure Advisory Committee (MSAC) for the 2023–2025 term.

US Institutional Investors Eye Nigerian Capital Market, Urge Regulatory Reforms

Date 11/10/2023

Institutional investors from the United States under the Institutional Investor Network have expressed interest in allocating their capital and exploring more direct investment opportunities in the Nigerian capital market.