The FMA has released a strongly worded letter it has sent to New Zealand banks in response to the Royal Commission in Australia.

[ROYAL COMMISSION] AMP 'strenuously denies' it committed a criminal offence when it supplied a law firm's report to the Australian regulator.

Advisers say extra incentives for clients taking out insurance policies are welcome, but won’t sway their decisions about what to recommend.

BNZ is seeing strong flows from mortgage advisers, however it doesn’t plan to make the channel as big as some of its competitors.

BNZ chief executive Angie Mentis, like her counterpart at ANZ, says there is no need for a Royal Commission in New Zealand and one of the reasons she cites is the existence of AFAs.

The Financial Markets Authority is advising ANZ on rewriting a DIMS disclosure document, after viewing advice that encouraged a client to invest the bulk of their money in the bank's own products.

Simplicity founder Sam Stubbs and Squirrel Mortgages founder John Bolton are among the business leaders involved in next week’s Drop your Boss campaign.

ANZ's home loan market share fell in the six months to March 31, however mortgage advisers accounted for a greater proportion of the loans written.

Clayton Coplestone's fund distribution business, Heathcote Investment Partners, has replaced David Batty who left in August last year.

It is not enough for the big banks to simply say that New Zealand is different to Australia – they’ll need to explain how, the Financial Markets Authority’s chief executive has said.

ANZ New Zealand chief executive David Hisco sees no need for a Royal Commission in New Zealand.

Most KiwiSaver funds reported a negative return for the first three months of this year.

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