regulation

1. 10 June 2026

   The FMA has questions for everyone but itself (or: here we go again, with banks and financial advice...)

   The FMA's access to advice report says some good things. But a report that urges banks deeper into advice without acknowledging the risks, and that critiques sector conservatism without any acknowledg…

2. 9 May 2025

   My submission relating to the FMA’s access to advice review

   I recently made a submission to the FMA's access to advice review. The Financial Markets Conduct Act 2013 isn't just about regulating advice — it also includes a purpose to ensure the availability of…

3. 17 April 2023

   Thoughts on AI and financial advice (April 2023)

   My views on AI, and specifically how it is likely to impact financial advice in the short- to medium-term, have evolved a lot in the last year or so. When the facts change, I try to change my mind — a…

4. 21 February 2020

   The regulator shouldn’t be funded by those it regulates

   My submission on FMA funding: the regulator shouldn't be mostly funded by the industry it regulates. That setup invites regulatory capture and muddles who the FMA is actually working for.

5. 5 April 2019

   Insurance, commission, and the separation of church and state

   I'm very sensitive to conflicts of interest — I've built my own business specifically to avoid them. Which is why it might surprise you that I'm a strong advocate for commission as the way insurance a…

6. 15 October 2018

   The issue isn’t “bad apples”. What New Zealand can learn from Australia’s Royal Commission

   Australia's Royal Commission into financial services misconduct is worth New Zealand's attention. Two themes kept recurring in the interim report: dishonesty and greed. The commission also made clear…

7. 25 July 2015

   “The dirt on coming clean”

   Conflicts of interest are unavoidable in professional services — the question is how you manage them. Disclosure is the popular answer, but research suggests it can actually make advice worse, not bet…

8. 13 September 2014

   Changes to FOFA – a storm in a teacup?

   Commentary on both sides of the FOFA changes exaggerates their impact. Most of the "protections" being debated already exist in other forms — breach of contract, professional negligence, dispute resol…