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August 2013
02 Aug 2013 Two banks join RealMe; another thinks about it
02 Aug 2013 Tyndall Monthly Commentary: China: External Discipline
02 Aug 2013 Fidelity completes TOWER buy
01 Aug 2013 AMP gets approval to combine schemes
01 Aug 2013 New rate from TSB
01 Aug 2013 KiwiSaver 'bailout' complied with rules: Westpac
01 Aug 2013 Regulation 'not successful'
July 2013
31 Jul 2013 [Opinion] Getting it off at the Playboy mansion
31 Jul 2013 Bank insurance practises queried
31 Jul 2013 Ireland keeps Code Committee chair
31 Jul 2013 Springboard clearly LVR move: Matthews
31 Jul 2013 Yield play on sharemarket diminishing
31 Jul 2013 LDC investors get full refund
31 Jul 2013 Broaden view on custody
31 Jul 2013 Consider other tools to cool market: Commentators
30 Jul 2013 Offsets open LVR debate
30 Jul 2013 Speirs re-enters finance market
30 Jul 2013 Code needs refreshing: Ireland
30 Jul 2013 Thursday deadline date for LM fund
29 Jul 2013 Westpac third to market with offset loan
29 Jul 2013 Kiwibank switches home loan focus
29 Jul 2013 FMA tells advisers how to give limited advice
29 Jul 2013 Strategic investors still likely to get 20%
29 Jul 2013 Prospects for the NZ sharemarket
26 Jul 2013 [Weekly Wrap] Who has the responsibility?
26 Jul 2013 F&P profit up 20%
26 Jul 2013 Reading the OCR tea leaves
26 Jul 2013 Problem found with AML
26 Jul 2013 Interest rates: A game of two halves
26 Jul 2013 Lowest rates have passed: ANZ
25 Jul 2013 Kiwibank promotes offsets
25 Jul 2013 Hike 'may come sooner than expected'
25 Jul 2013 No OCR change - see what RBNZ said
25 Jul 2013 Little improvement in financial literacy: Hughes
25 Jul 2013 No change from central bank; Rate change from big bank
25 Jul 2013 'Hike may come sooner than expected'
24 Jul 2013 Public design next app
24 Jul 2013 Making application process easier
24 Jul 2013 Dispute schemes offering carrots to advisers
24 Jul 2013 FMA files market manipulation claims
24 Jul 2013 Key backs off on first home buyer exemptions - a little
24 Jul 2013 Key backs off on first home buyer exemptions - a little
24 Jul 2013 Why accountants and lawyers are treated differently
24 Jul 2013 Negotiate with insurers: ICNZ
24 Jul 2013 Investors asked for their views
24 Jul 2013 Newland: Buyers will find a way around restrictions
23 Jul 2013 University boss gets Reserve Bank role
23 Jul 2013 RBNZ expected to be rock steady this week
23 Jul 2013 Performance fees pay off for Milford
23 Jul 2013 Key: LVR restrictions may be best solution
22 Jul 2013 Investor lodges complaint against FMA
22 Jul 2013 OCR move tipped within a year
22 Jul 2013 Brokers concerned about LVR restrictions
22 Jul 2013 Brokers concerned about LVR restrictions
22 Jul 2013 AFAs face more DIMS hurdles
22 Jul 2013 OCR rise tipped within a year
19 Jul 2013 [Weekly Wrap] KiwiSaver-only adviser mooted
19 Jul 2013 NZF frustrated waiting for Mike Pero
19 Jul 2013 ASIC wants LM wound up
19 Jul 2013 Plans for a KiwiSaver only adviser being considered
19 Jul 2013 Rate watching
19 Jul 2013 CVs no guide for insurance: Helm
18 Jul 2013 Asteron making hay
18 Jul 2013 Christmas OCR rise predicted
18 Jul 2013 Get out of bonds and into shares: Pain
18 Jul 2013 BNZ thinks floating rates about to rise
18 Jul 2013 BNZ thinks floating rates about to rise
18 Jul 2013 REAA: Buyers and sellers need more information
17 Jul 2013 S&P hedges its bets on GFNZ's rating
17 Jul 2013 TOWER discussing its solvency with RBNZ
17 Jul 2013 KiwiSaver managers have work to do: FMA
17 Jul 2013 TSB turn; OCR increase warning
17 Jul 2013 A Million Dollar view from Philly
17 Jul 2013 Small cities have big development costs
16 Jul 2013 Six-year moratorium about to end for Geneva
16 Jul 2013 First four named
16 Jul 2013 Rates just keep rising
16 Jul 2013 FMA ruling on AML overkill: PAA
16 Jul 2013 Kiwis struggling with commute trade-off: REINZ
15 Jul 2013 [Opinion] Bad news for advisers
15 Jul 2013 What makes good insurance?
15 Jul 2013 RI funds in New Zealand outperform
15 Jul 2013 HNZ guaranteed rent not enough
14 Jul 2013 NZ Home Loans cracks $1 bill mark
12 Jul 2013 How bank home loan rates compare
12 Jul 2013 Asteron to push level premium policies
12 Jul 2013 Sue Brown moves to new role at FMA
12 Jul 2013 [Weekly Wrap] Hughes is becoming mobile; so are we
12 Jul 2013 Hughes prepares to saddle up
12 Jul 2013 Sea of red rates
12 Jul 2013 Watch out for added extras: ISO
11 Jul 2013 Hughes has some regrets
11 Jul 2013 FMA ceo Hughes to step down
11 Jul 2013 Westpac goes higher and challenges brokers
11 Jul 2013 Harbour wins international gong
11 Jul 2013 New app threat to brokers
11 Jul 2013 Another Kiwi does well in Australia
10 Jul 2013 OCR hike middle of next year, NZIER says; Buddle court date set
10 Jul 2013 Partners Life raises more capital
10 Jul 2013 Don't forget corporate bonds
Latest News
Pie Funds enters adviser channel
Pie Funds enters adviser channel
3 min read
KiwiSaver members need more advice at retirement, panellists say
KiwiSaver members need more advice at retirement, panellists say
3 min read
Simon Papa: Access to advice - Is adviser conservatism the issue?
Simon Papa: Access to advice - Is adviser conservatism the issue?
9 min read
Second funds management firm sold today
Second funds management firm sold today
3 min read
Latest Comments
Give Total Rem the flick if KiwiSaver compulsory
Thank you Backstage. Look beyond just the structure/s. Currently, both employee and employer's contribution are taxed. So, even if I add a 3rd option - $100k salary of which $12k deducted for KS and no employer contribution. It made no difference financially whether it is option a, b or c, assuming law says $12k of the $100k pay package must go to KS. It will make a difference if a new tax law says, employer's contribution is tax free, then option "a" is a no brainer.
1 week ago W K
Simon Papa: Access to advice - Is adviser conservatism the issue?
Thank you Simon for such a substantial and thought-provoking piece. You write that “the CoFI law creates the potential for the FMA to influence the supply of financial products and services, not just conduct in relation to such supply”, to which I would offer two replies: Yes; and About Time. Your piece (and also your submission on the draft Fair Outcomes Guide) do suggest a preference for Rational Choice Theory and the Efficient Market Hypothesis. The problems with this being: Humans are not ideally-rational agents, and even if they were, the market is problematically inefficient. The latter is by design, by and for the benefit of the financial institutions. Informational asymmetries mean that consumers often don’t/can’t obtain the information they need to make an informed choice about whether to acquire, retain, or dispose of a financial advice product. (Good luck finding out the actual/modelled loss ratio on optional benefit x on product y.) Extending conduct requirements/expectations beyond supply, into areas such as design and pricing over the full life cycle of products and service offered, should help rebalance the scales. I agree with you when you write: “What is “fair” is inherently vague and contestable.” It doesn’t follow that it is unsuitable. Financial services law is full of such terms: “reasonable,” “care,” “diligence,” and “skill” immediately spring to mind. “Unusually large transaction” and “unusual pattern of transactions” from 22(1)(c) of the AML/CFT Act are vague, and currently subject to contest in FMA v InvestNow. Finally, I agree that more FADC cases would be helpful. Also helpful would be more details from enforcement cases the FMA has taken over the years. For example: Where a FAP was found to have breached the Record Keeping standard condition, provide a couple of (suitably redacted) examples of deficient files, along with explanatory commentary. If your files look like that, then do better.
1 week ago Paul Flood
Give Total Rem the flick if KiwiSaver compulsory
@WK agree with your summary and Murray, "exactly". Im a little confused about the statement, total rem has got to go? Even more confused by am mentat... blatant wage theft? Confused about young people not thinking about retirement or insurance? I have had the unfortunate experience at times working for multi national insurance companies and I do not recall them trying to get their mits on my wages, when did this happen? For centuries young people have not been able to picture themselves retired or believe that they will be multi-millionaires by this time. By the way, i bet they have a bank account. Hopefully am mentat works it out or, if he is a prosperous employer just continues to give give give to his employees with wild abandon and continues to cheer on any political parties that place more financial burdens on small business where generally the owner has risked all to try and get ahead. Employing people and helping in this way to provide for there families also.
2 weeks ago Darryl Scott
Give Total Rem the flick if KiwiSaver compulsory
As an investor, it is completely unacceptable to me that Total Remuneration continues if compulsion is brought in. It is simply wrong to continue putting downward pressure on salary and wages, particularly for people on minimum wage in a country that aspires to lift wages over time and raise the standard of living for NZers. National will lose my vote as a serious investor if they continue down the Total Remuneration path. No question...
2 weeks ago David Lawton
Give Total Rem the flick if KiwiSaver compulsory
This is just about the only online space outside of Newstalk ZB facebook comments where speaking out against blatant wage theft by multinationals is considered 'PC'. And yet still we wonder why those pesky younger generations of potential customers wholesale refuse to engage with traditional financial services. Couldn't be because our mindsets are stuck in the 1950s - no, it must be the kids who are wrong.
2 weeks ago Ross Alexander