FMA may act against financial services firms after review finds poor practices

Wed, 18 Jul 2018

By Paul McBeth July 18 (BusinessDesk) - The Financial Markets Authority may take regulatory action against three financial services firms after its latest probe into replacement life insurance. The market watchdog has been concerned about the sale of replacement life insurance for several years, largely around sales incentives for advisers which may put their interests at odds with those of their customers. The FMA's latest review spanned 11 large firms with qualifying financial entity (QFE) status, meaning they take responsibility f...

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