It is very capital intensive for insurers to run an adviser distribution channel in New Zealand because of the high upfront commission structure, a new AM Best report says.

Investors soon be able to get access to a group of highly rated fund managers who have waived their investment management fees.

FMA enforcement boss Belinda Moffatt is leaving the regulator.

The New Zealand Superannuation Fund’s passive Reference Portfolio, the basis on which the majority of the Fund is invested, will remain strongly weighted to equity ownership, the Guardians of New Zealand Superannuation, the manager of the Fund, say.

The FMA has issued civil proceedings in the High Court against Milford Asset Management portfolio manager Mark Warminger.

HSBC has launched an interest rate of 4.49% for its one, two and three-year fixed-term residential mortgages.

Morningstar has given silver ratings to a range of AMP KiwiSaver funds.

SBS has appointed Dunedin-based lawyer Anne McLeod to its board of directors.