It is unclear whether the Financial Markets Authority currently has the power to review client files when investigates financial advisers.

The May 19 Budget will see the Government change the mix of contributions to KiwiSaver, with less coming from the Member Tax Credit and more coming from both individuals and employers, said Prime Minister John Key.

Amadeus Asset Management has announced the appointment of Paul Baldwin as chief executive officer.

HSBC has appointed Noel McNamara as new chief executive officer for New Zealand, effective September 1 2011, subject to regulatory approval.

Standard & Poor's has cut NZF Money's credit rating to “CCC-” with a negative outlook, saying its liquidity position “remains delicately placed.”

OnePath has boosted its life insurance sales team with four new appointments.

Government confirmation that changes will be made to the KiwiSaver scheme in the May 19 Budget have prompted fears more uncertainty will undermine savings efforts.

FMA starts checks on advisers this week; IFA launches adviser ethics course; IRG gets new major shareholder; Risk assets rocket.

SBS Bank has announced the appointment of Mark McLean as general manager risk and support.

Government confirmation that changes will be made to the KiwiSaver scheme in the May 19 Budget have prompted fears more uncertainty will undermine savings efforts.

The Government has a golden opportunity in this year's Budget on 19 May to continue to build trust in New Zealand's financial markets by not tinkering with KiwiSaver benefits.

Former ANZ Bank risk manager Paul Barton has launched a new consultancy to help advisers and fund managers cope with the new financial adviser regulatory regime.

Sovereign’s decision to cut all its fixed rates by 15 basis points this week was a sign that it was taking a more competitive position in the market.