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December 2010
01 Dec 2010 TSB shaved 3yr rate
November 2010
30 Nov 2010 Disciplinary committee established for AFAs
30 Nov 2010 HSBC's home loan pricing strategy grows book
30 Nov 2010 Banking Ombudsman welcomes new members
30 Nov 2010 Deputy banking ombudsman appointed
30 Nov 2010 Tower appoints new investment managers
30 Nov 2010 New Southern Cross board appointment
30 Nov 2010 Kiwibank's growth momentum slows
30 Nov 2010 AMP aims at banks once AXA deal done
30 Nov 2010 Removal of gift duty still unclear
30 Nov 2010 Housing consents continue to fall
29 Nov 2010 Fisher nets FNZC KiwiSaver Fund
29 Nov 2010 Paul Mersi leaving PwC
29 Nov 2010 AXA Global Investors appoints head of Investment Strategy.
29 Nov 2010 AXA, AMP sign 'binding terms' over sale of Australasian units
29 Nov 2010 Allied Farmers ‘shocked’ at Hanover activity
29 Nov 2010 SFO launches Hanover investigation
29 Nov 2010 Rates Update: Equitable puts focus back on NBDTs
29 Nov 2010 Equitable euthanised
29 Nov 2010 News Round Up
27 Nov 2010 Land investment product definition drafted
26 Nov 2010 The A banks cut
26 Nov 2010 Hanover calls in lawyers on Allied
26 Nov 2010 Fifth Hubbard report released
26 Nov 2010 Finance stars in Fisher & Paykel results
26 Nov 2010 Heartland bank a big tick closer
26 Nov 2010 For former accountant, crime adds up to 18 months
26 Nov 2010 A new suitor for AXA
26 Nov 2010 New rules for fund management fee disclosure revealed
25 Nov 2010 Kiwibank made little difference to mortgage market growth: Tripe
25 Nov 2010 NZF loses a BDM
25 Nov 2010 Newpark in strategic partnership with Macquarie
25 Nov 2010 Heartland bank to be a niche player
24 Nov 2010 Heartland bank proposal highlights NBDT challenges
24 Nov 2010 Harbour appoints head of fixed income team
24 Nov 2010 Take a breath – registration deadline is months away
23 Nov 2010 Has regulation halved the value of your business?
23 Nov 2010 TJ Singh leaves FundSource
23 Nov 2010 OnePath on track with awards
23 Nov 2010 SBS cut two-year rates as well
23 Nov 2010 Challenges for Heartland bank down track
23 Nov 2010 Property gauges not positive
22 Nov 2010 OPI Pacific debenture holders no clearer about payment
22 Nov 2010 5 reasons why the real estate market can't stay down
22 Nov 2010 Rates Round Up:
22 Nov 2010 RaboDirect outs ASB’s 90-day leadership
22 Nov 2010 Wanted: 100,000 additional rental properties for Auckland
22 Nov 2010 Harcourts picks up a pulse in market
21 Nov 2010 ETITO offers financial incentive to advisers
21 Nov 2010 Huljich not the only one in the gun
19 Nov 2010 ASB's mortgage book shrinks for a second successive quarter
19 Nov 2010 FundSource Conference 2010 update
19 Nov 2010 Flurry of cuts to two-year rates
19 Nov 2010 Consider fixing two years now
19 Nov 2010 PIS/BIG/Minerva roadshow
19 Nov 2010 FundSource Conference
19 Nov 2010 Kiwibank cuts two-year rate
19 Nov 2010 Commercial property returns move into upswing
18 Nov 2010 Fidelity life appoints CFO
18 Nov 2010 Huljich faces criminal charges
18 Nov 2010 PIS/BIG/Minerva roadshow
18 Nov 2010 AXA advisers may struggle in wake of takeover
17 Nov 2010 Proposed legislation to restrict Australian bank interest rates
17 Nov 2010 Proposed legislation to restrict bank interest rates in Aussie
17 Nov 2010 PIS/BIG/Minerva roadshow
17 Nov 2010 OnePath to the bank door
17 Nov 2010 Ginger group bursts onto the scene
17 Nov 2010 Early Marac voting running about 90% in favour of merger
17 Nov 2010 TOWER sales quadruple
17 Nov 2010 PIS/BIG/Minerva roadshow
17 Nov 2010 Tyndall sale out of left field: Morningstar
16 Nov 2010 Banking Ombudsman reports 18% rise in mortgage finance complaints
16 Nov 2010 Tyndall Investment Management sold
16 Nov 2010 Controlled demolition topples South Canterbury
16 Nov 2010 Controlled demolition topples South Canterbury
16 Nov 2010 PIS/BIG/Minerva roadshow
15 Nov 2010 AMP makes renewed offer for AXA Asia Pacific
15 Nov 2010 Rates Round Up: Banks nudge each other in short-term deposit rates
15 Nov 2010 PIS/BIG/Minerva roadshow
15 Nov 2010 News Round Up
12 Nov 2010 Guardian Trust appoints managing director
12 Nov 2010 BNZ out alone
12 Nov 2010 Bank disclosure down, non-bank disclosure up
12 Nov 2010 From regulation spotlight to floodlight
11 Nov 2010 Newpark Conference - Staying ahead of the game
11 Nov 2010 Newpark Conference – Staying ahead of the game
11 Nov 2010 Finally a change
11 Nov 2010 Consideration for sole traders to register once
11 Nov 2010 No spring in property markets step
10 Nov 2010 ‘Bumpy’ ride for KiwiSavers may not be over
10 Nov 2010 Debenture funding for property sector ‘dead’
10 Nov 2010 Sovereign applying to be a QFE
10 Nov 2010 Triangulation – the income protection deal changes
10 Nov 2010 Another quiet day
10 Nov 2010 Business as usual Body tells IFAs
10 Nov 2010 Troup takes Body blow
10 Nov 2010 Further house price falls possible, says Reserve Bank
10 Nov 2010 Homestar launch prompts cost concerns
09 Nov 2010 Health insurance numbers ease considerably
09 Nov 2010 Investors flock to term deposits
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