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July 2010
02 Jul 2010 Commercial investment opportunity
02 Jul 2010 Rents will rise as house prices fall: Westpac
02 Jul 2010 OCR uncertainty
02 Jul 2010 Major cuts
02 Jul 2010 Govt expect to take two months to consult over regulation changes
02 Jul 2010 Marac merger with building societies could go ahead this year
02 Jul 2010 Now's the time for maintenance
01 Jul 2010 No prior ranking creditors ahead of St Laurence investors
01 Jul 2010 Equitable changes its approach
01 Jul 2010 Banks punch below their weight
01 Jul 2010 Retail banks market share
01 Jul 2010 Kiwibank slashes two-year rate to provide certainty
01 Jul 2010 Kiwibank cuts home loan rates
June 2010
30 Jun 2010 No obstacle to NAB bid for AXA in New Zealand
30 Jun 2010 Dorchester ‘humbled’ by debenture holders’ support for plan
30 Jun 2010 Goldman Sachs JBWere loses its RBNZ exemption
30 Jun 2010 Evitt re-joins AIA
30 Jun 2010 Legislation: freedom of choice
30 Jun 2010 Allied accuses Hanover of breaching agreement
30 Jun 2010 Non-bank sector gets new representative
30 Jun 2010 MED officials pushed for extension of QFE rules
30 Jun 2010 Solid response sees South Canterbury extend deposit rate special
30 Jun 2010 Forecasts for housing market off with the fairies
29 Jun 2010 New anti-churning rules introduced
29 Jun 2010 Westpac and Kiwibank race ahead in home loan lending
29 Jun 2010 Commercial building permits in doldrums
29 Jun 2010 NZF securitisation programme good news for NBDTs
29 Jun 2010 Financial advisers told despite the changes don't delay
28 Jun 2010 Banks battle it out for nine month deposit rates
28 Jun 2010 RBNZ to be pleased with growth
28 Jun 2010 Four adviser redundancies at ASB Securities
27 Jun 2010 Rates Round Up
27 Jun 2010 Adviserlink appoints new GM
25 Jun 2010 Tower wins right to insure ANZ wealth division customers
25 Jun 2010 A simple lesson in how monetary policy works
25 Jun 2010 Tower has a decrease of in-force premiums
25 Jun 2010 Category Two advisers can be authorised - now
25 Jun 2010 House building starting to rise again
25 Jun 2010 ANZ moves away from managed funds
24 Jun 2010 SCF news bad, but rates good
24 Jun 2010 Broker warns regulators had better be right over Hubbard
24 Jun 2010 NZF competes with banks for home loans
24 Jun 2010 ASB leads the charge
24 Jun 2010 MED proposes exempting independent advice from securities law
23 Jun 2010 Dorchester investors being offered liquidity
23 Jun 2010 Bridgecorp’s Petricivic and Roest face new fraud charges
23 Jun 2010 Continuing pressure on house prices
23 Jun 2010 All the banks have now hiked short-term rates
23 Jun 2010 Moral victory for investors; financial victory for ANZ
23 Jun 2010 Who is going to get ANZ's $45 million?
22 Jun 2010 Court action against ANZ, ING not worth the extra fine, regulator says
22 Jun 2010 ANZ settlement implications for financial advisers
22 Jun 2010 All the banks have now hiked short-term rates
22 Jun 2010 CDO Settlement: Securities Commission statement
22 Jun 2010 CDO Settlement: ANZ and ING's statement
22 Jun 2010 South Canterbury gets big ratings cut
22 Jun 2010 ANZ reaches record settlement over ING funds
22 Jun 2010 The Seven Choices
22 Jun 2010 Kiwibank and Westpac rise time
22 Jun 2010 Reserve dispute resolution scheme revealed
21 Jun 2010 Hubbard flags offshore investor for South Canterbury Finance
21 Jun 2010 Auld is new at Morningstar
21 Jun 2010 Sovereign teams up with the world’s Best Doctors
21 Jun 2010 Kiwibank launches capped floating rate and hikes short-term rates
21 Jun 2010 Dunne backs call for health insurance tax deductibility
21 Jun 2010 Officials didn't ask for regulatory changes
21 Jun 2010 ANZ National quick to follow
21 Jun 2010 News round-up
20 Jun 2010 Some TDs rise with home loan rate increases
20 Jun 2010 Rates Round Up
18 Jun 2010 More banks increase short term home loan rates
18 Jun 2010 Auckland momentum follows rest of country
18 Jun 2010 Weekly wrap: What a regulatory mess we have
18 Jun 2010 RBNZ finally gets a response
18 Jun 2010 New Plymouth: Investing in the ‘Naki
18 Jun 2010 RBNZ finally gets a response
18 Jun 2010 Don't blame us: Consumer
18 Jun 2010 ASB first to hike rates
17 Jun 2010 Dorchester says Securities Commission being unhelpful
17 Jun 2010 Where to for house prices?
17 Jun 2010 How not to do it
17 Jun 2010 ASB opens the rate hike floodgates
17 Jun 2010 Banks in mortgage rate stand-off
17 Jun 2010 Reducing margins
17 Jun 2010 Van Eyk's NZ man defects to Mercer
17 Jun 2010 Simon Power pledges solution for category 2 advisers
16 Jun 2010 South Canterbury has no plans to be a bank
16 Jun 2010 More than 90% of SCF debentures will covered by extended guarantee
16 Jun 2010 Higher deposit rates here to stay, PSIS says
16 Jun 2010 Banks in stand off over home loan increases
16 Jun 2010 RBNZ to continue hiking
16 Jun 2010 Sovereign founder joins TNP board
16 Jun 2010 Who’s afraid of the big bad banks?
15 Jun 2010 Securities Commission calls Dorchester recapitalisation plan biased
15 Jun 2010 ANZ's head of broker distribution departs
15 Jun 2010 RBA stays unmoved
15 Jun 2010 Over 3,300 mortgage & insurance brokers can’t voluntarily become AFA’s
15 Jun 2010 Buyers have edge over sellers for now
15 Jun 2010 It's good that some investors are selling
14 Jun 2010 IFA will expel banned Timaru adviser
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