[UPDATED WITH FMA, MILFORD COMMENT] Milford Asset Management has had a $281 million mandate suspended while an investigation into alleged market manipulation continues.

The Guardians of NZ Superannuation, who manager the NZ Superannuation Fund, have announced Milford Asset Management's mandate has been suspended.

BNZ has axed its "Classic" home loan range which has been used to strategically to target parts of the lending market.

Thirteen Mike Pero Mortgage franchisees have served notice on the company that they will not be renewing their contracts.

NZ Super Fund says it is making good progress in appointing an external manager to replace AMP as its manager of NZ equities. But it says it may end up managing the investments in-house.

Palmerston North-based Futurisk Insurance has appointed a new authorised financial adviser, Barry Heir.

PIMCO lost more than a quarter of its assets under management worldwide at the end of 2014, after founder Bill Gross announced his departure.

Partners Life is adding several benefit improvements, from April 1.

BNZ's GlobalPlus home loan product, which earned Air New Zealand Airpoints dollars has gone, but Westpac is about to roll out a similar product.