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July 2010
28 Jul 2010 Top broker shares his business
28 Jul 2010 Wrightson Finance fails to get quorum to extend bonds
28 Jul 2010 Ballantyne running Accuro
28 Jul 2010 Dorchester debenture holders get a warning
28 Jul 2010 ISI: We have not flip flopped on policy
28 Jul 2010 Women in Super breakfast
28 Jul 2010 Lonsec research bound for New Zealand
28 Jul 2010 House prices to fall, rents to rise
27 Jul 2010 Strategic Finance liquidation not a fishing expedition, trustee says
27 Jul 2010 Butler stays on for another year
27 Jul 2010 KiwiSaver funds in the red
27 Jul 2010 KiwiSaver Performance Survey - June 2010
27 Jul 2010 Ban on commissions no longer imminent
27 Jul 2010 House prices likely to stay flat
26 Jul 2010 First cut to long term bank TDs for months
26 Jul 2010 Hawkins' Budget Loans pleads guilty to misleading investors
26 Jul 2010 News Round Up
25 Jul 2010 Economists and markets say interest rates up this week
24 Jul 2010 Greens want new standards for rental properties
23 Jul 2010 It's time for Gareth to shut up
23 Jul 2010 IRD's property focus getting sharper
23 Jul 2010 UPDATED: ISI changes anti-churning policy after meeting advisers
23 Jul 2010 IFA plans its future
22 Jul 2010 ISI policy a gas
22 Jul 2010 RTA amendments finally passed
22 Jul 2010 SFO starts new Blue Chip probe
22 Jul 2010 PAA welcomes ISI move
22 Jul 2010 Flattening yield curve
22 Jul 2010 Advisers need to learn how to price their services
21 Jul 2010 Institute of Financial Advisers Conference 2010
21 Jul 2010 Regulator aims for 95% repayment for investors in frozen ANZ/ING funds
21 Jul 2010 Treasury pans Power’s bid to fast-track super-regulator
20 Jul 2010 Fierce competition to educate advisers
19 Jul 2010 Government pays out $79 mill to guaranteed deposits
19 Jul 2010 NAB gains more time to meet regulator concerns on AXA offer
19 Jul 2010 AIG nabs Pru man to lead float of AIA business
19 Jul 2010 News Round Up
19 Jul 2010 Canterbury investment properties hard to move
18 Jul 2010 Rates Round Up
16 Jul 2010 Making property a long distance love affair
16 Jul 2010 Does weak data mean the RBNZ should stop raising interest rates?
16 Jul 2010 Little evidence for aggressive interest rate hikes
16 Jul 2010 Little evidence the RBNZ needs to aggressively raise rates
16 Jul 2010 No fairy tale ending
16 Jul 2010 ING waiting to see how LM Investment refinancing works out
15 Jul 2010 PSIS knocking on door of investment-grade credit rating
15 Jul 2010 Asset Finance turns profitable ahead of govt guarantee expiry
15 Jul 2010 ISI boss resigns
15 Jul 2010 Better boundaries sought on the draft Code
15 Jul 2010 Soft housing activity predicted for the rest of the year amid weak REINZ data
14 Jul 2010 Bublitz lashes out over Mutual Finance receivership
14 Jul 2010 Home sales sink further to second-worst June in 10 years
14 Jul 2010 Residential highlights - June 2010
14 Jul 2010 Govt came close to changing capital gains tax rules on property
14 Jul 2010 Tax rebate pared back ANZ/ING settlement target
13 Jul 2010 Two non-bank lenders exit market
13 Jul 2010 Statutory manager freezes another Hubbard investment vehicle
13 Jul 2010 Looming inflation problem or not?
13 Jul 2010 Fraud attempts at AXA
13 Jul 2010 ING's KiwiSaver status being questioned
13 Jul 2010 Property investors staying put in this buyers' market
12 Jul 2010 Code Committee wants to align review with 5-yearly MED update
12 Jul 2010 Banks adjust short TD rates
12 Jul 2010 Rates Round Up
12 Jul 2010 CFA founder appointed as GIPS Council chair
12 Jul 2010 Sovereign marcoms manager moves on
12 Jul 2010 Morningstar rerates Brook fund
12 Jul 2010 Property investors still sitting on their hands
12 Jul 2010 QV Main urban areas commentary: June 2010
09 Jul 2010 NZDMO looks for trans-Tasman harmony in inflation-indexed bonds
09 Jul 2010 The seven considerations in deciding to float or fix
09 Jul 2010 Workplace Savings NZ Breakfast
09 Jul 2010 [Weekly Wrap] Not a vintage week for ISI
09 Jul 2010 Platforms no barrier for independence
08 Jul 2010 SCF claws back $50m, appoints managers
08 Jul 2010 Workplace Savings NZ Breakfast
08 Jul 2010 Long term fixed rates slashed
08 Jul 2010 Five-year rates, one year on..
08 Jul 2010 Be wary of raising rents
07 Jul 2010 ISI ceo and others charged by Securities Commission
07 Jul 2010 Dominion and North South directors accused of misleading investors
07 Jul 2010 Macquarie targets one Devon departee
07 Jul 2010 Sellers still keen to meet the market
06 Jul 2010 RBA leaves rates unchanged
06 Jul 2010 Instant Finance triples profit on debenture exit, swipes at guarantee
06 Jul 2010 ISI says it will now consult on its new anti-churning policy
06 Jul 2010 The case for KiwiSaver insurance
06 Jul 2010 NZMBA adds Lender of the Year award
06 Jul 2010 Rate rises wrong as economy stalls: NZIER
06 Jul 2010 Three public meetings on new Code planned
05 Jul 2010 Receivers hope to get a further 5c for Lombard Finance investors
05 Jul 2010 Fixed mortgage rates jump lower
05 Jul 2010 Winter malaise sets in as Auckland house sales slump
05 Jul 2010 More major cuts
05 Jul 2010 News Round Up
05 Jul 2010 Mortgagee sales increase in Auckland and Northland
04 Jul 2010 Scrabble for six- to 12-month deposits this week
04 Jul 2010 Rates Round Up
02 Jul 2010 Interest rate decisions not so easy now
02 Jul 2010 New Code of Conduct out
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