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December 2011
09 Dec 2011 Premium reductions a priority for Southern Cross
09 Dec 2011 Interest rates on hold until at least the second half of 2012
09 Dec 2011 Retail deposit surge cushions banks: Reserve Bank
08 Dec 2011 Partners Life figures revealed
08 Dec 2011 FMA completes strategic leadership appointments
08 Dec 2011 Interest rates on hold until at least the second half of 2012
08 Dec 2011 S&P delivers Heartland an early Christmas present
08 Dec 2011 OCR remains the same
08 Dec 2011 Commission ban would hurt consumers
08 Dec 2011 Bank gives little away on rates
08 Dec 2011 Auckland house prices above 2007 peak, investors back
08 Dec 2011 QV December 2011 - the regions
07 Dec 2011 SFO lays 21 charges against South Canterbury Finance five
07 Dec 2011 AMP appoints new head of underwriting and claims strategy
07 Dec 2011 IFA trains up bank staff
07 Dec 2011 Get rid of RFAs: Tate
07 Dec 2011 Investors active in North Shore, Christchurch sees slowdown
06 Dec 2011 IFA boss says get rid of RFAs
06 Dec 2011 Moodys is now saying keep the OCR down
05 Dec 2011 Squeezed margins hit newest bank
05 Dec 2011 Rates round up: Dec 5
05 Dec 2011 Newpark appoints new BDM
05 Dec 2011 News Round Up: December 5
05 Dec 2011 OCR week previewed
05 Dec 2011 Auckland house prices hit new November high
04 Dec 2011 Next OCR increased pushed further into the future
04 Dec 2011 Sorry, there ain't no property rort
02 Dec 2011 [Weekly Wrap] Getting the chop
02 Dec 2011 S&P downgrades big four Aussie banks
02 Dec 2011 Repayments of OnePath mortgage fund delayed
02 Dec 2011 FATCAT. Opps I mean FATCA
02 Dec 2011 Looking at BNZ's new rates
02 Dec 2011 Immigrants more active in market than departing Kiwis
01 Dec 2011 ANZ's Sept Qtr profit jumps but mortgage book shrinks again
01 Dec 2011 Blue Star's 1Q trading worse than expected
01 Dec 2011 Trustees Executors appoints new private wealth advisers
01 Dec 2011 AIA: Health, wealth and wellbeing – how’s yours?
01 Dec 2011 Botherway explains OnePath clean-out
01 Dec 2011 BNZ drops rates
01 Dec 2011 ‘Flood' of new listings in wake of RWC
01 Dec 2011 Auckland leads 11% home consents rise
November 2011
30 Nov 2011 Quakes hit SBS Bank's profit and mortgage book
30 Nov 2011 It's a bit of an NZF week
30 Nov 2011 Former Don Ha properties sold
29 Nov 2011 AMP gives Mercer the boot
29 Nov 2011 The cost of NZF's finance company failure
29 Nov 2011 AIA New Zealand announces new relationship role
29 Nov 2011 Advisers urged to question fund managers
29 Nov 2011 Sale of NZF's home loan business details
29 Nov 2011 Mum and Dads bearing brunt of mortgagee sales rise
28 Nov 2011 The pros and cons of NZF's deal
28 Nov 2011 Heartland does it tough, narrows profit forecast
28 Nov 2011 Who should be made to comply?
28 Nov 2011 News Round Up: November 28
28 Nov 2011 Property guru goes bust
28 Nov 2011 Average weekly rent up 7.4% in year to June
25 Nov 2011 Fidelity Life appoints new director
25 Nov 2011 Kiwibank's profit surged and mortgage book growth accelerated in Sept
25 Nov 2011 Contact sets minimum interest on 30-year bonds at 8%
25 Nov 2011 Star analyst shuns Aussie stocks
24 Nov 2011 Quake death claims reach 100
24 Nov 2011 TSB lifts Sept Qtr profit, grows mortgage book
24 Nov 2011 Regulations benefit boutique managers
24 Nov 2011 Housing market confidence slips over quarter
23 Nov 2011 Understand and Relate
23 Nov 2011 Globalising forces to impact on NZ advisers
23 Nov 2011 What's your best rate?
22 Nov 2011 Broadlands withdraw from 'dead' debenture market
22 Nov 2011 OnePath's share of new business falls as lapses soar
22 Nov 2011 ASB's mortgage book shrinks for a sixth successive quarter
22 Nov 2011 Blue Star appoints replacement MD
22 Nov 2011 Providers split over election promises
22 Nov 2011 No need to jump to fixed: Westpac
21 Nov 2011 Rates Round Up: Nov 19
21 Nov 2011 News Round Up: Nov 21
21 Nov 2011 Potential - and pitfalls - in mortgagee sales
20 Nov 2011 Politicians and interest rates
20 Nov 2011 New life insurance business grew in Sept quarter
18 Nov 2011 Transpower launches $200m senior bond issue‏
18 Nov 2011 Major clean out at OnePath
18 Nov 2011 FMA warns against KiwiSaver fee double-dipping
18 Nov 2011 Stocks attractive despite government debt woes
17 Nov 2011 No certainty on recoveries for OPI debenture holders
17 Nov 2011 Kiwibank's bold move
17 Nov 2011 Kiwibank goes under 5%
17 Nov 2011 Interest in local government bonds increasing
16 Nov 2011 No fair price for gold, but use it
16 Nov 2011 No salt with the Pepper loan
16 Nov 2011 Ha portfolio sale includes rentals with ‘solid returns’
15 Nov 2011 Fees only one part of default fund debate
15 Nov 2011 Lifetime cuts ties with Mortgage Link
15 Nov 2011 IAG lifts 25 year bond issue to $325m, sets minimum coupon at 7.5%
15 Nov 2011 Share gets a new CEO
15 Nov 2011 Trustees up in arms over auditor disclaimers
15 Nov 2011 Lifetime to sever ties with Mortgage Link
15 Nov 2011 CGT and planners get both barrels from Brash
14 Nov 2011 S&P concerned about Auckland City Council's rising debt
14 Nov 2011 S&P cuts Telecom's rating to "A-" with stable outlook
14 Nov 2011 Risks and rewards (with the quiz)
14 Nov 2011 News Round Up: Nov 14
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