Specialist fund manager Liontamer has reaffirmed its focus has changed from the launch of new funds, to the administration of existing funds under management.

With its changing business focus it has ended its marketing arrangement with Matt Mimms and The Investment Store and revamped its website.

“With no new funds in the pipeline, Matt is concentrating on the businesses of the other fund managers that he works with.”

Liontamer says its new website should assist advisers and brokers with all their queries. Currently it has have 21 live funds.

‘Independence' under the spotlight across the Tasman

Advisers across the Tasman who use the term ‘independent' are to face greater scrutiny by the Australian Securities & Investments Commission (ASIC).

ASIC said a recent surveillance project uncovered 21 instances of advisers' making false or misleading statements about the independence of the services they offered.

"ASIC's first priority is to ensure people are receiving the information they need to make informed decisions and confident financial decisions," said ASIC commissioner Peter Kell.

"We will not tolerate them being misled on the important issue of the independence of financial system gatekeepers such as financial advisers and insurance brokers."

The ASIC surveillance found the majority of the breaches were committed by general insurance brokers (17) followed by financial planners (3) and one life broker.

GFC lessons prompt new policies from RBNZ

The Reserve Bank (RBNZ) has announced three prudential policy changes based on lessons from the global financial crisis (GFC).

In response to the vulnerability the GFC exposed for financial institutions to suffer from liquidity contraction in the wake of a financial shock the Reserve Bank will require registered banks to increase their Core Funding Ratio from 70% to 75% in January 2013.

The Bank is also working with Treasury on policies to limit the build up of risk during credit booms and a new framework called Open Bank Resolution, which will give the Government options to quickly deal with a bank failure.