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December 2010
24 Dec 2010 Christmas Greetings (and more)
23 Dec 2010 Deloitte steps down as Equitable receiver
23 Dec 2010 Goldman Henry makes changes
23 Dec 2010 Sovereign's credit rating confirmed
23 Dec 2010 New conditions for QFEs
22 Dec 2010 TSB increases market share slightly
22 Dec 2010 Broadlands terribly frustrated with S&P
22 Dec 2010 Discrimination under attack
22 Dec 2010 Goldridge links up with Ginger Group
22 Dec 2010 OCR predictions for 2011
22 Dec 2010 Business bought because baby born
22 Dec 2010 SBS grows its mortgage book
22 Dec 2010 Two newbies at FundSource
22 Dec 2010 Despite a lift, housing market mood remains sombre
21 Dec 2010 OCR predictions for the New Year
21 Dec 2010 Prison for former Five Star directors
21 Dec 2010 Investors warned not to publicly air grievances
21 Dec 2010 LAQC changes show amazing arrogance and sloppiness: Labour
20 Dec 2010 Rates Update: Banks tweak short term rates
20 Dec 2010 News Round Up: December 19
20 Dec 2010 Affordability can have dramatic impact: Dickens
20 Dec 2010 Mortgagee sales down, focus of forced sales changes
17 Dec 2010 Guardian Trust sold to Australians
17 Dec 2010 What a difference a year makes
17 Dec 2010 Competition heats up in the one-year space
17 Dec 2010 TOWER gets Asteron man into team
17 Dec 2010 Set B exam no walk in the park
17 Dec 2010 Heartland Bank one step closer
16 Dec 2010 Broadlands expected to show dramatically improved result
16 Dec 2010 Poore to Super Fund
16 Dec 2010 Clarification around Standard Set B exams
16 Dec 2010 Brown goes from FNZC to Harbour
15 Dec 2010 ANZ confirms head of broker distribution
15 Dec 2010 Ethical investment on the rise
15 Dec 2010 Ginger group cosies up with mortgage brokers
15 Dec 2010 Reserve Bank sees further house price falls
14 Dec 2010 BNZ's mortgage book grew at twice its market share
14 Dec 2010 Finally a bounce
14 Dec 2010 Brent McGregor joins Allied Kiwi
14 Dec 2010 Retirement Commission rules out compulsory KiwiSaver
14 Dec 2010 Loan Market gets a bit of Ginger
14 Dec 2010 What's happening across the regions
14 Dec 2010 Rental looking good, residential moribund
14 Dec 2010 House price values and sales boosted by late spring surge
13 Dec 2010 Rates Update: TSB leads in one-year term
13 Dec 2010 Rates Round Up: C+M directors to fight charges
13 Dec 2010 News Round Up: December 13
13 Dec 2010 Hassan joins international body
13 Dec 2010 North v South: Which island offers the best investment locations
10 Dec 2010 Macquarie removes the cash management edge
09 Dec 2010 Forsyth Barr appoints new Investment Adviser to Dunedin Branch
09 Dec 2010 Standard & Poor’s lowers Broadlands Finance credit rating
09 Dec 2010 Former advisers charged over ponzi scheme
09 Dec 2010 Capital + Merchant directors face SFO charges
09 Dec 2010 No hurry to fix after OCR announcement
09 Dec 2010 The OCR's road to recovery
09 Dec 2010 OCR steady at 3 pc
09 Dec 2010 KiwiSaver enters ‘hard yards’ phase
09 Dec 2010 Rates left unchanged over stimulus effect concerns
08 Dec 2010 Powerco bucks trend in securing bank debt
08 Dec 2010 Grosvenor announces QFE plans
07 Dec 2010 Another finance company shuts up shop
07 Dec 2010 Women in Finance
07 Dec 2010 Future proof business from up front commission cuts
07 Dec 2010 Boomert leaves Tower Health and Life
07 Dec 2010 Sovereign Mk III in the making
07 Dec 2010 LAQC changes confirmed
07 Dec 2010 Property values begin to stabilise
06 Dec 2010 Banks innovate in short-term rates
06 Dec 2010 Rates Round Up: Dec 6
06 Dec 2010 News Round Up: December 6
06 Dec 2010 Diversified creates Advisory Board of Directors
06 Dec 2010 RBNZ grants exemptions to finance companies
05 Dec 2010 No interest rate rise for Christmas
05 Dec 2010 Predicting research houses
03 Dec 2010 Securities Commission shows its awake
03 Dec 2010 The charges against: Nathans Finance
03 Dec 2010 The charges against: Five Star Consumer Finance and Five Star Finance
03 Dec 2010 The charges against: Bridgecorp
03 Dec 2010 The charges against: National Finance
03 Dec 2010 The charges against: Capital + Merchant Finance
03 Dec 2010 Lombard Finance & Investments
03 Dec 2010 Dominion Finance Group and North South Finance
03 Dec 2010 Fendal Finance
03 Dec 2010 Blue Chip ruling a relief for lenders
03 Dec 2010 Westpac's mortgage growth slows
02 Dec 2010 Two tiered AFA disclosure
02 Dec 2010 Dorchester scores an own goal
02 Dec 2010 Rate rises on the horizon
02 Dec 2010 Swap rates starting to pick-up
02 Dec 2010 Liberty Group aligns with TNP
02 Dec 2010 Study may reveal reason for lack of life insurance
02 Dec 2010 Interpreting policy provisions – part 1
02 Dec 2010 ANZ loses market share in home loans
02 Dec 2010 Housing confidence down, investment property ‘less attractive’
01 Dec 2010 Fisher & Paykel Finance sees securitisation revival
01 Dec 2010 The first AFAs announced
01 Dec 2010 Everything you need to know - the financial adviser regulatory regime
01 Dec 2010 Tower to combine units, reach out to adviser groups
01 Dec 2010 Sole advisers already registered can get refunds
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