The Financial Markets Authority has turned to a local funds management firm to find its director of investment management.

Almost 1,000 licences for financial advice providers have been issued, but there may still be some advisers who do not fully understand the requirement ahead of them, it has been suggested.

Home lending soared to $6.5 billion in July during New Zealand's Covid-free period, reaching its highest level since November last year.

Home loan rates will plummet to 2% in the next year, with low rates set to push up house prices, according to ASB.

The Financial Markets Authority should take court action to set a benchmark for what is an unreasonable KiwiSaver fee, Simplicity founder Sam Stubbs says. 

While economists at the big four lenders believe the Reserve Bank will opt for a negative official cash rate next year, Kiwibank analysts believe the move would be a mistake.

FMA director of regulation Liam Mason says the regulator won’t be drawn on whether an active or passive management style is better for KiwiSaver – but it’s clear that the issue of what fees are charged is a complex one.

AMP has announced a new chairman and AMP Capital chief executive as the company grapples with allegations of sexual harassment. 

Nib New Zealand has reported an increase in membership numbers, revenue and earnings in the year to June 30.

The Government has extended its Business Finance Guarantee Scheme but advisers say the programme has not been popular with clients so far. 

The Financial Markets Authority (FMA) has published an independent report into the passive and active investment management styles used by KiwiSaver providers. [+ REPORT]

New Zealand may not need KiwiSaver default schemes at all, one adviser says.