Geoff Peterson has been elected to the board of the Professional Advisers Association (PAA).

OnePath is closing its troubled mortgage fund. This fund has $45 million invested in it and has 761 members. Around $11 million of the fund is invested in the Australian-domicilied LM Mortgage fund.

Reserve Bank governor Alan Bollard left interest rates on hold but gave strong signals that increases are coming soon.

OnePath has decided to close its $179 million Private Portfolio Service (PPS) Superannuation fund as well is the PPS Mortgage trust which invests in the troubled LM morgtage fund.

Former National Finance 2000 director Trevor Ludlow has been convicted in the Auckland District Court of seven charges under the Crimes Act after an investigation by the Serious Fraud Office (SFO).

New Zealand's fund managers are predicting longer-term strength in the New Zealand dollar and stronger economic growth as the year progresses.

Morningstar has appointed Grant Kennaway to the newly created position of head of fund research, Asia-Pacific.

New appointments at the Financial Markets Authority mean the role of Director, Financial Adviser Regulation has been disestablished.

HSBC New Zealand is offering its high net worth Premier customers the first three months of their life insurance premiums free when signing up for a policy with the bank.

The Government is introducing the Non-Bank Deposit Takers (NBDT) Bill to Parliament next week to further tighten the rules for the non-bank sector.

Debate over timing of OCR increases; Lessons from Armitage v Church; Accuro secures third Consumer recommendation; More market analysis (with correct link).

The Financial Markets Authority has boosted its strategic leadership team with three appointments to key positions in support of chief executive Sean Hughes.