Fee Langstone's submissions on the draft Code of Conduct for Financial Advisers

On 11 October 2018 the Financial Advice Code Working Group released the draft Code of Conduct for Financial Advisers which applies to insurance brokers (amongst others). Feedback was sought on the draft Code from interested parties by this Friday, 9 November. Fee Langstone has been following developments closely in this area because of the importance it has to all insurance brokers in New Zealand.

According to partner Craig Langstone, the draft Code raises a number of issues that need to be addressed before the Code is finalised. As a result Fee Langstone has made a formal submission on aspects of the draft Code. The Fee Langstone submission can be accessed here

craig.jpeg

District Court – Health and Safety at Work Act 2015

District Court – Health and Safety at Work Act 2015

The new Health and Safety at Work Act 2015 (the Act) came into force on 4 April 2016.  One of the major objectives of the Act was to recognise and legislate for an increasing trend in employment relationships and in the workplace environment where multiple entities simultaneously have control of a workplace and those working in it.  WorkSafe v Athenberry Holdings Limited [2018] NZDC 9987 is the first defended hearing to be brought under the Act.  

Read More

New defence to defamation

New defence to defamation

The Court of Appeal has recently recognised a new defence to defamation.

The defence of qualified privilege arises where a person has a legal, social or moral duty or interest to make a statement to someone with a corresponding duty or interest to receive it.  Lange v Atkinson extended qualified privilege to publications concerning the conduct of publicly elected officeholders and those seeking such office (i.e. politicians).  The court in Lange v Atkinson declined to extend the defence further to include matters of public interest. However, the Court of Appeal in Durie v Gardiner held that societal and legal developments justify such a defence now being recognised. In doing so, it set the boundaries of a new defence of public interest.

Read More

In Brief Special Report 10 August 2018: Health and Safety Update

In Brief Special Report 10 August 2018: Health and Safety Update

The Court of Appeal has upheld the decision of the High Court in Xu & Anor v IAG, in a decision that will provide further certainty to insurers in respect of the entitlements of an assignee under an assigned insurance claim.  Following the Court’s decision, it remains the case in New Zealand that replacement benefits in an insurance policy are personal to the original insured, and are incapable of being assigned. 

Read More

In Brief Special Report 1st August 2018: AML/CFT Litigation

 In Brief Special Report 1st August 2018: AML/CFT Litigation

The Court of Appeal has upheld the decision of the High Court in Xu & Anor v IAG, in a decision that will provide further certainty to insurers in respect of the entitlements of an assignee under an assigned insurance claim.  Following the Court’s decision, it remains the case in New Zealand that replacement benefits in an insurance policy are personal to the original insured, and are incapable of being assigned. 

Read More

A closer look at insurance contract law review

A closer look at insurance contract law review

The Ministry of Business, Innovation and Employment (‘MBIE’) has recently proposed a review of the law around insurance contracts. The law governing insurance is fragmented, spread across six different acts, some of which are over 100 years old.

MBIE sets two objectives for the issues paper regarding the whole lifecycle of an insurance policy. One, to ensure insurers and insureds can transact with confidence, and two, to make sure all interactions between insurers and insureds are fair, efficient and transparent.

Read More

In Brief: Special Report 18th May 2018

In Brief: Special Report 18th May 2018

The Court of Appeal has upheld the decision of the High Court in Xu & Anor v IAG, in a decision that will provide further certainty to insurers in respect of the entitlements of an assignee under an assigned insurance claim.  Following the Court’s decision, it remains the case in New Zealand that replacement benefits in an insurance policy are personal to the original insured, and are incapable of being assigned. 

Read More

Anti-money laundering rules to kick in shortly for lawyers and conveyancers

Anti-money laundering rules to kick in shortly for lawyers and conveyancers

‘Phase 2’ of the shake-up of New Zealand’s Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) legislation is just around the corner.

From July 2018, lawyers, conveyancers, and trust and company service providers will need to begin complying with the AML/CFT Act’s strict reporting and monitoring requirements. Other entities that will come within the ambit of the Act include accountants from 1 October 2018, real estate agents from 1 January 2019, and the New Zealand Racing Board and high-value dealers from 1 August 2019.

Read More