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August 2011
01 Aug 2011 Reaffirmation, not re-launch, for Sovereign
01 Aug 2011 News Round Up: August 1
01 Aug 2011 The NZ Mortgage Mag
01 Aug 2011 Devonport sees two-bedroom rents up 26% on year
July 2011
29 Jul 2011 Z Energy calls off further bond issue
29 Jul 2011 AMP Capital appoints Verhaart for new NZ role
29 Jul 2011 One tiny increase signs of more to come
29 Jul 2011 Two adviser bodies, two funding proposals for FAA
29 Jul 2011 Southern Cross appoints new National Sales Manager for Advisers
29 Jul 2011 Cyclical recovery underway in housing market
29 Jul 2011 Leaky homes assistance available
28 Jul 2011 Not coming up Trumps
28 Jul 2011 Shoe Shop Compliance
28 Jul 2011 Bollard takes a bob-each-way to OCR review
28 Jul 2011 Peterson elected to PAA board
28 Jul 2011 OnePath closing troubled mortgage fund
28 Jul 2011 Blue Star bondholders hopping mad at raw deal
28 Jul 2011 RBNZ signals rates hikes coming
28 Jul 2011 OCR on hold but...
28 Jul 2011 OnePath closes $179m superannuation fund
28 Jul 2011 The economists view on the OCR decision
28 Jul 2011 Bollard takes a bob-each-way to OCR review
27 Jul 2011 Former National Finance director convicted after SFO investigation
27 Jul 2011 More on NZF
27 Jul 2011 NZ emerging from economic winter: Russell
27 Jul 2011 Fisher & Paykel Finance may issue bonds
27 Jul 2011 OnePath Life gets new GM
26 Jul 2011 Allied Farmers collects $2.45m from Bridgecorp's receiver
26 Jul 2011 NZF home loan deal still on: Thornton
26 Jul 2011 Morningstar appoints head of Asia-Pacific fund research
26 Jul 2011 Hewitson leaves FMA
26 Jul 2011 Stubbs sees adviser shortfall, hails KiwiSaver success
26 Jul 2011 Life insurance simple wealth management product: HSBC
25 Jul 2011 NBDTs face new Government legislation
25 Jul 2011 Rents at two-and-a-half year high, but OCR set to rise
24 Jul 2011 [Updated] What will happen to interest rates?
24 Jul 2011 News Round Up: July 25
24 Jul 2011 Debate over timing of the next OCR hike hots up
23 Jul 2011 FMA announces key appointments
22 Jul 2011 Tyndall Commentary: What Europe needs to do
22 Jul 2011 NZF Money heads into receivership owing about $18m
22 Jul 2011 NZF Money heads into receivership owing about $18m
22 Jul 2011 Lessons from the Armitage Church case
22 Jul 2011 OnePath and ASB lead the KiwiSaver pack
22 Jul 2011 Russell appoints NZ MD
22 Jul 2011 NZF facing the prospect of default
21 Jul 2011 NZF withdraws prospectus after loan problem, FMA concerns
21 Jul 2011 Perimeter enforcement underway
21 Jul 2011 Thinking about next week
21 Jul 2011 Cheaper FMA/FAA fee option most popular
21 Jul 2011 Investors treading water in housing market
20 Jul 2011 Heartland increases capital raising to $58 million
20 Jul 2011 NZ Funds Management ownership changes
19 Jul 2011 Z Energy mulls another bond issue
19 Jul 2011 Pressure on rate rise building
19 Jul 2011 Berry outlines how to squeeze the juice out of the fee model
18 Jul 2011 Bridgecorp investors to receive first meagre payout next month
18 Jul 2011 KiwiSaver membership tops 1.75m
18 Jul 2011 Blue Star's bondholders face a nasty choice
18 Jul 2011 Financial summit needs to cover life risks too
18 Jul 2011 News Round Up: July 18
18 Jul 2011 Capital gains tax won't move money from housing, claims BNZ economist
14 Jul 2011 Is CGT Labour's V-Day?
14 Jul 2011 IFA appoints new professional development director
14 Jul 2011 Speech: Hughes opens IFA Conference
14 Jul 2011 Sheriff almost run out of town
14 Jul 2011 Tax plans hit property investors
14 Jul 2011 Auckland great place to be a landlord: Skipper
13 Jul 2011 Fraud charges laid against Capital + Merchant directors
13 Jul 2011 Tower makes two new appointments
13 Jul 2011 Credit Union North gets downgrade from S&P
13 Jul 2011 First monitoring feedback complete
13 Jul 2011 Tower brings equity management in-house
13 Jul 2011 NZF took a hit on Finance Direct sale
12 Jul 2011 A TSB tweak
12 Jul 2011 ISI worms out of churning policy review
12 Jul 2011 PGG Wrightson Finance's debt holders better with Heartland
12 Jul 2011 Harbour Commentary: The soft patch is behind us
12 Jul 2011 Morningstar Australasia appoints new head of sales
12 Jul 2011 Auckland sales up 30% in June
11 Jul 2011 Moses resigns from IFA
11 Jul 2011 The need for medical insurance
11 Jul 2011 SCF's Helicopters NZ sale settled for $154m
11 Jul 2011 Rodney Responds: Economists need to understand how things work
11 Jul 2011 Mortgage activity acclerates; Rodney responds
11 Jul 2011 AMP creates new role of AMP NZ chief economist
11 Jul 2011 News Round Up: July 11
11 Jul 2011 Auckland leads nationwide property values higher
11 Jul 2011 QV June 2011 Report - the regions
10 Jul 2011 Gary Stevens "lurking in the background" of Nathans debacle: judge
08 Jul 2011 Heartland's deposit reinvestment rate climbs
08 Jul 2011 Guilty verdict for former Nathans directors
08 Jul 2011 Rounding up the facts on FMA ad
08 Jul 2011 Cowboy wrangle continues
08 Jul 2011 SFO warns property investors of inflated valuations
07 Jul 2011 Your advice (on FMA ads) please
07 Jul 2011 Serial fund issuer rolls out another one
07 Jul 2011 AM Best gives report on Unimed
06 Jul 2011 Hubbard's Southbury debts include nearly $190m owed SCF
06 Jul 2011 Capital gains tax idea floated
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