Political pressure placed on ING

Investors in the Diversified Yield and Regular Income Funds have until 5pm Monday to decide which of the various options to accept. The most favourable, from an investment perspective, also has the requirement that investors have to waive away their legal rights.

Labour commerce spokesman and former Commerce Minister Lianne Dalziel says ING should drop the clause and be a "good corporate citizen."

She says "the fish-hook in the deal is investors are being forced to sign away their right to take further legal action against ING" while the Commerce Commission determines whether these funds were missold.

"The obligation is now on ING to be a responsible corporate citizen and do what is right for its customers, and drop the condition cutting off the ability to take legal action as far as it relates to the Commerce Commission investigation and any subsequent proceedings.