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March 2011
03 Mar 2011 Regulator on the road: Competency requirements
03 Mar 2011 Working out Westpac's home loan book
03 Mar 2011 Rents down, sales up in Auckland
02 Mar 2011 Financial Markets Authority legislation on track
02 Mar 2011 Claims – quantifying an approach
02 Mar 2011 John Key expects OCR cut
02 Mar 2011 10 lenders cut short-term rates
02 Mar 2011 Power to quit politics at next election
02 Mar 2011 SBS mortgage book swells
02 Mar 2011 Partners Life show and tell about to start
02 Mar 2011 Earthquake adds to housing market woes - ANZ
01 Mar 2011 Allied Farmers writes off more of Hanover assets
01 Mar 2011 Regulator on the road: Reflecting on professionalism
01 Mar 2011 ANZ/National cuts one-year rate below floating
01 Mar 2011 Advisers leaving Standard Set C too late
01 Mar 2011 AIA: The leadership vacuum
01 Mar 2011 Support the relief army in Christchurch
01 Mar 2011 Harbour appoints new investment analyst
February 2011
28 Feb 2011 ETITO appoints new chief executive
28 Feb 2011 Mortgage rates “set to fall dramatically”
28 Feb 2011 ANZ's market share looks to have fallen
28 Feb 2011 Rates Update: Rabo’s leadership remains unchallenged
28 Feb 2011 News Round Up: February 28
25 Feb 2011 Loan Market awards top brokers
25 Feb 2011 Kiwibank book and bad debts grow
25 Feb 2011 The KiwiSaver contenders
25 Feb 2011 Mexted Bragg joins another fin company
25 Feb 2011 How things change in an instant
25 Feb 2011 Regulator on the road: From Balclutha
25 Feb 2011 AMP Capital Investors top the nominations at Morningstar Awards
24 Feb 2011 Earthquake could result in OCR cut
24 Feb 2011 Downer may have to pay higher interest on Works Finance bonds
24 Feb 2011 Economists expect 50 basis point OCR cut
24 Feb 2011 LBA offers accommodation for Christchurch brokers
24 Feb 2011 TSB grows home loan market share
24 Feb 2011 Goal based advice increases in popularity
24 Feb 2011 Banks offer loan relief for quake victims
23 Feb 2011 Sec Com earthquake update for advisers
23 Feb 2011 Banks offer loan relief for quake victims
23 Feb 2011 ETITO postpones Christchurch exams and assessments
23 Feb 2011 Reserve Bank working to help in wake of earthquake
22 Feb 2011 Haircut leads to close shave in quake
22 Feb 2011 BNZ's mortgage book, profitability grew strongly in Dec qtr
22 Feb 2011 Finance coys join banks in short-term deposit war
22 Feb 2011 Earthquake means OCR to hold till 2012
22 Feb 2011 IFA: Push out the regulation deadline for Chch advisers
22 Feb 2011 Christchurch advisers - put your hands up for help
22 Feb 2011 Mayhew resigns, disappointed to miss FMA chair role
22 Feb 2011 House market to remain weak - ASB
21 Feb 2011 DBR continues to grow
21 Feb 2011 News Round Up: February 21
21 Feb 2011 Advisers joining up - slowly
21 Feb 2011 Westpac figures suggest bank disclosure regime is broken
21 Feb 2011 Hotchin denies his campaign linked to $5m dispute
18 Feb 2011 New non-executive appointment at Dorchester
18 Feb 2011 HSBC takes six-month rate below 5%
18 Feb 2011 AMP's adviser numbers decrease
17 Feb 2011 Survey finds consumer support for life advice commissions
17 Feb 2011 Tucker joins FDR
17 Feb 2011 Regulator on the road
17 Feb 2011 Litmus test for South Canterbury as key business up for sale
17 Feb 2011 AXA culls advisers
16 Feb 2011 Insurance protects AXA's finances
16 Feb 2011 Fidelity Life Options Kiwi named top performing KiwiSaver fund
16 Feb 2011 A little inconvenience for Tower
16 Feb 2011 OnePath says its committed to advisers
16 Feb 2011 What happens to GPG's capital notes?
15 Feb 2011 Rabobank leaves competition behind in terms up to a year
15 Feb 2011 Former ACC property manager pleads guilty to corruption charges
14 Feb 2011 Allied Kiwi Adviser of the Year Awards
14 Feb 2011 Devon Funds Management appoints analyst
14 Feb 2011 Allied Farmers won't comment on Hanover accusations
14 Feb 2011 Fidelity keenly interested in GPG's 35% Tower stake
14 Feb 2011 Insurance treated as a commodity
14 Feb 2011 Market now expects October OCR hike
14 Feb 2011 Mike Pero launches real estate company
14 Feb 2011 Tower out of the loop on GPG's sale plans
11 Feb 2011 Non-bank deposit taking tussle
11 Feb 2011 How coincidental
11 Feb 2011 Hanover takes aim at Allied
11 Feb 2011 Quick guide to the licensing process
11 Feb 2011 House sales hit a new low in January; prices slide
11 Feb 2011 What's happening with house prices in your region
10 Feb 2011 Hanover takes aim at Allied
10 Feb 2011 ASB loses market share in deposits, loans; asset quality worsens
10 Feb 2011 NZMBA to help members grow business in 2011
10 Feb 2011 More new appointments at Partners Life
10 Feb 2011 Mike Pero Mortgages welcomes new broker
10 Feb 2011 Mike Pero Mortgages welcomes new broker
10 Feb 2011 Global shares the place to be: AMP Capital
10 Feb 2011 Is the heart attack serious enough?
09 Feb 2011 TNP Home Loans growing membership
09 Feb 2011 TNP Home Loans to grow membership
09 Feb 2011 Newpark spots the gaps with leads
09 Feb 2011 Simon Allen to chair Financial Markets Authority
09 Feb 2011 L’Almont resigns from Mortgage Express after 12 years
09 Feb 2011 Disclosure like choosing a builder
09 Feb 2011 AMP and Fidelity increase premiums
08 Feb 2011 Strong end to 2010 for KiwiSaver
08 Feb 2011 L’Almont resigns from Mortgage Express after 12 years
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