Offshore participation in local government funding agency bonds is increasing, Westpac says.

AMP is venturing into the online direct sales space with a new product called Quick Start Life.

ANZ Investments has received a silver rating for all of the multi-asset class funds in its three KiwiSaver schemes, from research house Morningstar.

Plus4 Insurance Solutions has a new Auckland-based adviser.

Mortgage Express has appointed two new advisers – Sian Jones and Megan Fraser.

Loan-to-value restrictions on mortgage lending have probably had a bigger impact on the market than the Reserve Bank had expected and might prompt it to relax the rules, Westpac’s economists said today.

Looking through the week's news the piece which captures my attention is the Financial Market Authority's discussion paper around AFA reporting. it's not one of the stories which has generated much reader comment, but it is siginficant.

Nine KiwiSaver managers have been given default status for the next seven years.

[UPDATED] There will be nine KiwiSaver default providers in the next seven-year term, it was announced this morning.

A new version of the Code of Conduct for financial advisers has been signed off by the Commerce Minister. [Copy of Code attached]

[UPDATED] Westpac’s latest changes to its fixed home loan rates have put it at the most expensive end of the market, particularly for borrowers with a deposit of less than 20%. (Rates corrected)