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September 2011
19 Sep 2011 Interest rates remain flat, although choppy water all around
19 Sep 2011 Joint chairmen appointed at Planet Financial Group
19 Sep 2011 Filling in time
18 Sep 2011 News Round Up: September 19
16 Sep 2011 Birkenhead bucks rent trends
16 Sep 2011 Providers back FMA KiwiSaver focus
16 Sep 2011 Floating rates unlikely to rise this year
16 Sep 2011 Calls for earthquake strengthening costs to be depreciable
15 Sep 2011 Magellan puts a man on the ground in NZ
15 Sep 2011 Bill opens up investor access to local Government bonds
15 Sep 2011 MDRT offers sales tools to advisers
15 Sep 2011 Future interest rate hikes softened
15 Sep 2011 Blue Star MD resigns
15 Sep 2011 Floating rates unlikely to rise this year
15 Sep 2011 [Comment] Telecom offers retail bond investors an inferior deal
15 Sep 2011 RBNZ gives its latest thoughts on OCR
15 Sep 2011 RBNZ leaves cash rate on hold
15 Sep 2011 Adviser feedback prompts TNP pilot
15 Sep 2011 Floating mortgage rates unlikely to rise this year as OCR remains on hold
14 Sep 2011 FMA says 16 finance companies under investigation, six off the hook
14 Sep 2011 SFO, FMA lay a swag of criminal charges against Belgrave directors
14 Sep 2011 Top brokers still see a prominent place for fixed-rate mortgages
14 Sep 2011 There's still a place for fixed rates
14 Sep 2011 FMA outlines Enforcement priorities
13 Sep 2011 Telecom bondholders offered fee to approve de-merger
13 Sep 2011 Parts of Auckland see property values above 2007 peak
13 Sep 2011 Will the Unbeatable campaign return?
13 Sep 2011 MED throws out FMA funding fee proposal
13 Sep 2011 QV August 2011 – the regions
12 Sep 2011 Waiting for the Spring money sale
12 Sep 2011 Interest rates likely to stay on hold
12 Sep 2011 News Round Up: September 12
12 Sep 2011 Sir Bob Jones expands Auckland office portfolio
12 Sep 2011 Bollard likely to keep interest rates on hold this week
11 Sep 2011 Harbour Commentary: Bond markets pricing in a lost decade
11 Sep 2011 It's not ethical for managers to keep getting fees on frozen funds
11 Sep 2011 Bollard likely to keep interest rates on hold this week
09 Sep 2011 Tyndall Monthly Commentary
09 Sep 2011 QFEs get report card from FMA
09 Sep 2011 NZF back in business
08 Sep 2011 North South investors may recover up to another 8.5c in the dollar
08 Sep 2011 Further payouts to North South debenture holders unlikely
08 Sep 2011 What is normal for home loan rates?
08 Sep 2011 Residential building activity near to 20-year low
08 Sep 2011 Investor activity muted nationwide, large variations across regions
07 Sep 2011 Will fixing become normal again?
07 Sep 2011 Blog: Where are the regulators when you need them?
07 Sep 2011 Australian cash rate remains unmoved
07 Sep 2011 Some valuers are scaremongering about panel system: PropertyIQ
06 Sep 2011 Where are the regulators when you need them?
06 Sep 2011 Perpetual adds a new adviser
06 Sep 2011 Advisers with convictions registered
06 Sep 2011 Floating along
05 Sep 2011 News Round Up: September 5
05 Sep 2011 Misadventures in Insurance
05 Sep 2011 Kiwibank increases one-year rate
03 Sep 2011 Property investors losing out on rent
02 Sep 2011 Nathans directors sentenced
02 Sep 2011 8 reasons why state asset sales will struggle
02 Sep 2011 Sovereign announces new business development manager
02 Sep 2011 Life insurance payouts hit new $1 billion high
02 Sep 2011 New listings rise may herald a strong Spring housing market
01 Sep 2011 St Laurence investors to get 3c in the dollar
01 Sep 2011 Geneva Finance to repay principal early
01 Sep 2011 Partners Life takes out Us Advice
01 Sep 2011 ASSET Magazine - for smart advisers
01 Sep 2011 Later OCR hike called for
01 Sep 2011 Bank looks to eliminate fraudulent valuations
August 2011
31 Aug 2011 Hold the hikes NZIER says
31 Aug 2011 When success doesn’t equal satisfaction
31 Aug 2011 Trustees now under supervision
31 Aug 2011 Small banks going different ways
30 Aug 2011 Allied Farmers' equity $6.4m in the red after $43m annual loss
30 Aug 2011 The future of KiwiSaver
30 Aug 2011 Tower gets a new chairman
30 Aug 2011 EQC earthquake liability increased by $4 billion
29 Aug 2011 TSB and SBS banks show divergent trends
29 Aug 2011 New MDRT NZ chair
29 Aug 2011 BNZ sees growth in mortgage book
29 Aug 2011 Blue Star slightly betters prospectus sales and loss forecasts
29 Aug 2011 News Round Up: August 29
29 Aug 2011 BNZ sees home loan growth
26 Aug 2011 ASB's mortgage book shrinks for a fifth successive quarter
26 Aug 2011 The sheriff is coming
26 Aug 2011 News on two kiwi lenders
25 Aug 2011 Bad loans depress Kiwibank profits
25 Aug 2011 Adviser groups answer CPD credit concerns
25 Aug 2011 Fortress noteholders to get 45c in the dollar
25 Aug 2011 TNP questions who can offer structured credits
25 Aug 2011 Is fixing the right way to go?
25 Aug 2011 Putting rental property on the app
24 Aug 2011 Is fixing your mortgage outdated thinking?
24 Aug 2011 Insurers’ consider adviser cull over persistency fears
24 Aug 2011 Capital gains tax would distort market further, says Reserve Bank
24 Aug 2011 Goldie: You're better off ignoring volatility
24 Aug 2011 Risk is the likelihood of losing your hard earned wealth; Volatility is the wobbles
24 Aug 2011 Another cut to home loan rates
24 Aug 2011 Limited house price growth the new normal
23 Aug 2011 Inflation expectations improve but still too high
23 Aug 2011 ANZ's time to reveal
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