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Mark Warminger’s lawyer described a $1.6m penalty sought by the Financial Markets Authority as “crushing”, it has been reported.

An insurance client who was unable to claim for cardomyopathy because of a stand-down period has complained his adviser should have warned him that was a possibility.

A senior investment analyst at Milford has moved to Pie Funds.

Actuary Mark Weaver has died after a short fight with cancer.

TSB Bank has revealed it has lent $50 million in peer-to-peer loans via Harmoney.

TSB Bank's annual profit fell by 25% in the 12 months to March 31. The company  increases mobile mortgage managers and the use of mortgage advisers as it tries to grow its share of business in the "golden triangle” area of Auckland, Hamilton and Tauranga.

The Financial Services Council has announced that insurer AIA has rejoined its ranks.

High Court rules in favour of FMA, but firm still boasts New Zealand registration on its website.