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February 2009
04 Feb 2009 Kiwibank extends hand to brokers
04 Feb 2009 Newpark deal sunk by shareholder vote
04 Feb 2009 RMA changes help property investors
03 Feb 2009 Tower joins corporates seeking to tap demand for bonds
03 Feb 2009 Fonterra sets minimum rate for six-year bonds
03 Feb 2009 Dorchester to proceed with doomed liquidation vote
03 Feb 2009 Stability key for KiwiSaver providers
03 Feb 2009 KiwiSaver bright spot in funds flow
03 Feb 2009 Nothing left for Capital + Merchant investors
03 Feb 2009 New director of financial planning at Massey
02 Feb 2009 Nothing left for Capital + Merchant investors
02 Feb 2009 Meridian offers fixed-rate notes
02 Feb 2009 AIG Life changes commission structure
02 Feb 2009 Shifting of responsibilities at AXA
02 Feb 2009 News Round Up
January 2009
30 Jan 2009 Home-building approvals fall to record low
30 Jan 2009 Cheap money, cheap houses
30 Jan 2009 Investors to apply collective pressure to ING
29 Jan 2009 Bollard slashes rates citing global recession
29 Jan 2009 OCR reduced to 3.5%
29 Jan 2009 ING defends CDO funds
29 Jan 2009 Book: Living off the Smell of an Oily Rag in NZ
29 Jan 2009 OCR reduced to 3.5%
28 Jan 2009 CBS Canterbury enters wars
28 Jan 2009 Who should be the commissioner of advisers?
28 Jan 2009 Worst of downturn over: AMP
27 Jan 2009 FNZ goes for $34 million
26 Jan 2009 Wizard brokers stick together
26 Jan 2009 News Round Up
26 Jan 2009 NZ’s rising unemployment will sap housing demand, ANZ says
25 Jan 2009 Another humungous rate cut expected
23 Jan 2009 ASB PIEs all its TD rates
23 Jan 2009 MED prepares ground for commissioner
23 Jan 2009 Investors opt for safety of bricks and mortar
22 Jan 2009 NZMBA sacks its ceo
22 Jan 2009 Positive predictions for property
22 Jan 2009 Harris goes Spicers
22 Jan 2009 Liontamer back in NZ hands
22 Jan 2009 Up-market subdivision selling at mortgagee
21 Jan 2009 Home loan report: Keeping eyes open
21 Jan 2009 The money constitution
21 Jan 2009 Three new members for BT team
21 Jan 2009 Domestic bonds tops in Oz: Morningstar
21 Jan 2009 Tower has new CFO
21 Jan 2009 Home loan report: Keeping eyes open
19 Jan 2009 What does 2009 hold?
19 Jan 2009 News Round Up
16 Jan 2009 New key account manager for Tower
16 Jan 2009 ING fences off funds as CFO takes charge
15 Jan 2009 Market Review: January 2009 Commentary
15 Jan 2009 Market Review: London January 2009 Commentary
15 Jan 2009 Home sales edge higher in December, prices slip
15 Jan 2009 REINZ residential highlights - December 2008
15 Jan 2009 House prices fall 7.4% in 2008; December sales tumble
15 Jan 2009 QV value growth for December 2008
15 Jan 2009 Bought or buying investment property?
15 Jan 2009 Global speculative-grade default rate picked to soar
15 Jan 2009 Dorchester makes two GM appointments
14 Jan 2009 Home-building approvals rise in November
14 Jan 2009 More bad news for credit funds
14 Jan 2009 Opinion: Yes we can...
14 Jan 2009 Decisions looming for borrowers
13 Jan 2009 Decisions looming for borrowers
13 Jan 2009 Last Bastion for Equitable
13 Jan 2009 NZ credit rating outlook lowered by S&P
13 Jan 2009 Insurance tax bill may be delayed
13 Jan 2009 AIA bonds offer 7.25%
13 Jan 2009 Get real, get ready – ING consultant warns advisers
12 Jan 2009 Auckland house sales, prices fell in December
12 Jan 2009 Chris Smith back to UK
11 Jan 2009 Weekly Wrap: Some good news to start with
09 Jan 2009 FDR intl bond funds a better option: Tower
08 Jan 2009 Geneva posts $7.7m loss
08 Jan 2009 Mercer appoints new NZ head
08 Jan 2009 Huge growth in bank deposits comes with warning
07 Jan 2009 Power promises bipartisan approach to adviser regs
06 Jan 2009 IRD planning crackdown on insurance advisers
06 Jan 2009 Changes needed in 2009 for unhealthy homes
05 Jan 2009 TSB Bank lifts profits, mortgage book little changed in September Qtr
December 2008
24 Dec 2008 Charges laid against Bridgecorp and Nathans directors
24 Dec 2008 Westpac's Q4 profit and mortgage market share shrink
23 Dec 2008 2009 Investment predictions discussed
23 Dec 2008 Key investment trends for 2009 predicted
22 Dec 2008 Campbell to head up Guardian Turst
22 Dec 2008 Strategic wins investor approval for moratorium
22 Dec 2008 Bargain bonanza in coastal holiday towns
22 Dec 2008 New rules seemingly shrink BNZ mortgage book
22 Dec 2008 News Round up...
19 Dec 2008 Fonterra plans retail bond offer
19 Dec 2008 Era of the shrewd investor
19 Dec 2008 RIF/DYF report reveals ugly truth
19 Dec 2008 Further cuts on the horizon
18 Dec 2008 More questions to ponder about credit funds
18 Dec 2008 Octaviar agreement to free up cash for OPI
18 Dec 2008 Building a trusted financial sector
17 Dec 2008 Dorchester Finance investors approve plan
17 Dec 2008 Wizard puts away wand
17 Dec 2008 Implemented consulting a flop, departing Russell NZ admits
17 Dec 2008 New Russell NZ boss based in Oz
17 Dec 2008 Opinion: Insurance makes you feel wealthy
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