A proposed customer due diligence exemption for reporting entities who deal with other reporting entities under the AML/CFT Act could allow fund managers to rely on the processes of AFAs.

[With graphs] Fees KiwiSaver managers are charging fund members are starting to come under scrutiny now providers are required to make quarterly disclosures.

ASB's full year profit of $806 million was a "good result for the business", chief executive Barbara Chapman says.

The Financial Market Authority says it has seen an increase in complaints about how banks sell KiwiSaver and is looking at the issue.

Westpac New Zealand chief executive, Peter Clare has resigned following a recent, major medical procedure to correct a heart condition.

ASB has reviewed its interest rate forecasts and now pushed back the date when it thinks the official cash rate will next rise.

FMA head of supervision Kirsty Campbell says that although financial advisers have been regulated for three years there is still work to do to improve their behavior.

A couple of firms had unfortunate incidents this week; a bank rethinks the role of advisers and we have a special reason to give a fund manager a few bob (even if you are not an AFA).

The Institute of Financial Advisers has done some sums and estimates the annual cost of being an authorised financial adviser is around $23,318.

Westpac has broken ranks with the other big banks and reintroduced trail commissions for mortgage advisers.