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April 2010
21 Apr 2010 Reserve dispute resolution scheme wants to be "independent"
21 Apr 2010 2010 SovNet Conference
21 Apr 2010 CPI Inflation
21 Apr 2010 The Investment Store Roadshow
20 Apr 2010 Inflation pressure starts sapping strength of emerging equity markets
20 Apr 2010 Markets start betting against low short-term interest rates
20 Apr 2010 ETITO registration and booking system launched
20 Apr 2010 GMI wholesale chief defects back to Trade Me
20 Apr 2010 NZ 1st-qtr inflation accelerated less than expected
20 Apr 2010 Business Update 2010: Free FSPR seminars from Companies Office
20 Apr 2010 The Investment Store Roadshow
20 Apr 2010 ACCC shoots down NAB bid for AXA
20 Apr 2010 2010 worse for NZ defaults than 2009: S&P
20 Apr 2010 Brash says transparency is on the way for Huljich
19 Apr 2010 Do Brokers Cost More?
19 Apr 2010 CPI key ahead of the Reserve Bank’s OCR review
19 Apr 2010 Huljich scheme stung by new conditions
19 Apr 2010 NZF ramps up long-term deposit rates
19 Apr 2010 11th Annual One-Stop Update for Accountants in th Public Sector
19 Apr 2010 Rates round-up
19 Apr 2010 News round-up
19 Apr 2010 Property round-up
16 Apr 2010 Code Committee consultation of the Draft Code of Professional Conduct
16 Apr 2010 Think about fixing at a two-year rate soon
16 Apr 2010 Nuplex director resigns as Securities Commissioner
16 Apr 2010 Think about fixing at a two-year rate soon
16 Apr 2010 House sales still in soft patch
16 Apr 2010 REINZ residential highlights – March 2010
16 Apr 2010 Code Committee consultation of the Draft Code of Professional Conduct
16 Apr 2010 Advisers need to put aside a day a week NOW
16 Apr 2010 Reset rate market discounts, corporate bonds probably past peak
16 Apr 2010 Commerce Commission to sit on ING decision for another month
15 Apr 2010 Confidence in regulation helping businesses to grow
15 Apr 2010 Asteron puts KiwiSaver scheme on notice
15 Apr 2010 Super fund loses top strategist
15 Apr 2010 SBS makes cuts twice
15 Apr 2010 Code Committee consultation of the Draft Code of Professional Conduct
15 Apr 2010 Home loan approvals take a dive
15 Apr 2010 Code Committee consultation of the Draft Code of Professional Conduct
15 Apr 2010 South Canterbury Finance guarantee comes in nick of time
15 Apr 2010 ETITO confident training demands can be met
14 Apr 2010 Complaints to REAA pouring in
14 Apr 2010 TNP signs up with X-Plan
14 Apr 2010 Code Committee consultation of the Draft Code of Professional Conduct
14 Apr 2010 Former Justice Ministers prosecuted over Lombard offer documents
14 Apr 2010 Dorchester launches SimpleLife
14 Apr 2010 Draft Code consultation meetings in full swing
13 Apr 2010 Huljich re-launches non-KiwiSaver funds
13 Apr 2010 Code Committee consultation of the Draft Code of Professional Conduct
13 Apr 2010 New additions to the Macquarie Private Wealth team
13 Apr 2010 NZ dollar follows Australian dollar lower on weaker home loans
13 Apr 2010 Code Committee consultation of the Draft Code of Professional Conduct
13 Apr 2010 SCF first-half loss nudges $200 million
13 Apr 2010 Adviser registration pushed out to July
12 Apr 2010 North Shore suburbs booming
12 Apr 2010 No moves to fix
12 Apr 2010 South Canterbury's fluid statements show greater impairments
12 Apr 2010 Depsosit takers in hibernation
12 Apr 2010 Rates round-up
12 Apr 2010 News round-up
12 Apr 2010 Property market to stay flat while uncertainties remain
12 Apr 2010 QV regional snapshot - March 2010
12 Apr 2010 Property round-up
10 Apr 2010 ING Life Major Medical Cover: Why you should recommend it to your clie
09 Apr 2010 Code Committee consultation of the Draft Code of Professional Conduct
09 Apr 2010 New board appointments at Planet
09 Apr 2010 AXA Global Investors boost wholesale team
09 Apr 2010 Code Committee consultation of the Draft Code of Professional Conduct
09 Apr 2010 SBS nudge rates down
09 Apr 2010 Mystery bidder makes low-ball offer for Strategic investors
09 Apr 2010 S&P expects more finance companies will collapse
08 Apr 2010 Something Old, Something New
08 Apr 2010 HSBC slashes rates
08 Apr 2010 Auckland central: Money in metropolis
08 Apr 2010 AIA launches new business products
08 Apr 2010 ETITO releases assessment pricing for advisers
08 Apr 2010 12-months of PIE's
08 Apr 2010 Financial adviser legislation threatens NZ’s reputation: Chapman Tripp
08 Apr 2010 HSBC lowers 6-month rate below 5%
08 Apr 2010 Regulation of advisers already increasing confidence
08 Apr 2010 Hawk coy on Cynotech’s future
07 Apr 2010 HSBC slashes rates and launches campaign
07 Apr 2010 Auckland house sales pick up in March
07 Apr 2010 Kiwi vs Oz
07 Apr 2010 QSBO like the working man’s pancake
07 Apr 2010 Australian interest rates rise to their widest gap ever with NZ
07 Apr 2010 Code Committee meeting
07 Apr 2010 KiwiSaver fees too high: Actuary
07 Apr 2010 Long-serving adviser thumbs nose at authorisation
07 Apr 2010 Dorchester recapitalisation runs behind schedule
06 Apr 2010 Guardian Trust appoints new Head of Distribution
06 Apr 2010 Treasury says tax system out of kilter
06 Apr 2010 Director resigns from Smartshares
06 Apr 2010 Banks shying away
06 Apr 2010 News Round Up
06 Apr 2010 Rates round up
06 Apr 2010 Property round-up
05 Apr 2010 Prudential says it plans to retain AIA Australia
01 Apr 2010 Lifestyle outperforms residential
01 Apr 2010 NZF re-adjusts high LVR loan structure
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