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April 2010
01 Apr 2010 Vision Securities, sunk by failed loan settlement
01 Apr 2010 Court of Appeal reserves decision on Tower ANZ battle
01 Apr 2010 Sovereign takes advantage of medical advancements
01 Apr 2010 Minor Banks current vs 5yr average
01 Apr 2010 The link between OCR changes and bank lending rates
01 Apr 2010 Kerr boosts support for ailing South Canterbury Finance
March 2010
31 Mar 2010 Milford to launch own KiwiSaver fund
31 Mar 2010 [The Code] Draft Code adds momentum to financial adviser regulation
31 Mar 2010 Code changes rules around education
31 Mar 2010 Draft code of conduct finally out
31 Mar 2010 Asset Allocation & Portfolio Management
31 Mar 2010 NAB negotiates 'binding terms' with AXA SA for AXA AP purchase
30 Mar 2010 [Weekly Wrap] And so the Code was handed down
30 Mar 2010 S&P downgrades, then upgrades Geneva
30 Mar 2010 Clear as dishwater
30 Mar 2010 Declining fixed rates to have little effect
30 Mar 2010 AIA NZ dismisses Prudential sale rumours
30 Mar 2010 11th Annual Superfunds Summit
30 Mar 2010 RBNZ expects to catch more borrowers when it hikes OCR: Spencer
30 Mar 2010 Confidence in housing market slipping
30 Mar 2010 Building consents rise, while apartment approvals drop to 1995 lows
29 Mar 2010 Power refers Strategic Finance to Securities Commission
29 Mar 2010 Securities Commission tries to clear up definition of advice
29 Mar 2010 Equitable cuts long rates with new guarantee
29 Mar 2010 Rates Round Up
29 Mar 2010 NZF changes its high LVR loans
29 Mar 2010 KiwiSaver measurement standards put out to tender
29 Mar 2010 NZ Treasury pours cold water on leaky home GST relief
29 Mar 2010 Too soon to declare easing of mortgagee sales
26 Mar 2010 RBNZ expects to catch more borrowers when it hikes OCR
26 Mar 2010 Strategic receivers say no money available for pref shareholders
26 Mar 2010 PAA/ING Life roadshow
26 Mar 2010 PAA/ING Life roadshow
26 Mar 2010 Managers must sort KiwiSaver reporting standards
26 Mar 2010 Decision on frozen ING funds delayed a fortnight
26 Mar 2010 Westpac two down 10
25 Mar 2010 Industry update: Insurance & Savings Ombudsman
25 Mar 2010 Fixed rates keep falling
25 Mar 2010 GDP above Reserve Bank's expectations
25 Mar 2010 Current vs five-year average
25 Mar 2010 Marac sells half its insurance business to AA
25 Mar 2010 NZMBA implements national training co-ordinator
25 Mar 2010 FAANZ appoints Pratley as media spokesperson
25 Mar 2010 A peek inside your client's mind
25 Mar 2010 PAA/ING Life roadshow
25 Mar 2010 PAA/ING Life roadshow
25 Mar 2010 All quiet
25 Mar 2010 ING's future look taking shape
24 Mar 2010 Strategic’s Finnigan freelancing after receivership, oversees FAI repa
24 Mar 2010 Securities Commission takes a swipe at Huljich in KiwiSaver guidelines
24 Mar 2010 PAA/ING Life roadshow
24 Mar 2010 SPI Capital survives vote
23 Mar 2010 House prices face downwards pressure
23 Mar 2010 AIA New Zealand 2010 Roadshow
23 Mar 2010 AIA New Zealand 2010 Roadshow
23 Mar 2010 South Canterbury may have to raise more capital
23 Mar 2010 PAA/ING Life roadshow
23 Mar 2010 PAA/ING Life roadshow
23 Mar 2010 Concerns growing over regulation start date
23 Mar 2010 Perpetual appoints head of advice
23 Mar 2010 Geneva Finance's fate to be decided Friday
23 Mar 2010 Tax rate on some high income earners less than 10%: English
22 Mar 2010 AIA New Zealand 2010 Roadshow
22 Mar 2010 Westpac last to drop rates in busy week
22 Mar 2010 New guide to adviser education launched
19 Mar 2010 South Canterbury bonds hit 40%
19 Mar 2010 12 lenders cut fixed rates
19 Mar 2010 Not as much tax in residential property as TWG says
19 Mar 2010 Loan Market Group appoints two directors
19 Mar 2010 TOWER Health & Life adds BDM
19 Mar 2010 Criminal charges laid against Capital+Merchant directors
19 Mar 2010 Debt levels kept down
19 Mar 2010 Reserve Bank may hold off on raising OCR beyond mid-year
19 Mar 2010 No name advisers make the big time
19 Mar 2010 Kiwibank lowers one year rates
19 Mar 2010 For sale: Aegis
18 Mar 2010 SFO probes possible related-party breaches at Capital+Merchant
18 Mar 2010 TWG got it wrong
18 Mar 2010 Growth stalling, says property indicator
18 Mar 2010 Fixed rates fall like dominoes
18 Mar 2010 Twelve lenders cut fixed rates
18 Mar 2010 AIA New Zealand 2010 Roadshow
18 Mar 2010 AIA New Zealand 2010 Roadshow
18 Mar 2010 ASB's profit, mortgage market share dips
18 Mar 2010 HBS makes big cuts
18 Mar 2010 SPI allegedly breaches deed with $1.2m loan
17 Mar 2010 KiwiSaver provider wants better disclosure
17 Mar 2010 Game of two halves
17 Mar 2010 Opinion: 200 years old
17 Mar 2010 ACCC delays decision on AXA bids
17 Mar 2010 What's ahead for the OCR
17 Mar 2010 AIA New Zealand 2010 Roadshow
17 Mar 2010 AIA New Zealand 2010 Roadshow
17 Mar 2010 Code committee puts back release date
16 Mar 2010 Fidelity Life appoints investment operations manager
16 Mar 2010 2010 CFO Summit
16 Mar 2010 AIA New Zealand 2010 Roadshow
16 Mar 2010 AIA New Zealand 2010 Roadshow
16 Mar 2010 New investment class arrives
15 Mar 2010 A new interest environment
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