The fate of South Canterbury Finance hangs in the balance this weekend, with just four days until a waiver on its trust deed expires on Tuesday.

The statutory manager for Alan Hubbard and Hubbard Funds Management have released its second report and says investments in the funds business were over-valued by 25% (Full report attached)

Advisers need to figure out what services they need to be authorised for before applying to the new regime.

Marac Finance will jump at the opportunity to snap up bargains as it gears up its plans to build a new listed bank.

Christchurch

Marac Finance has reported a net profit after tax of $14.3m against a forecast in last year’s prospectus of $13.7 million.

The Serious Fraud Office has laid more than 100 charges against four former directors of failed lender Five Star Finance carrying a maximum penalty of seven years apiece.

ASB has entered into the home equity release market which was active but is currently extremely dormant.

Mortgage Link has appointed a new independent director to replace Ross Butler.

Kiwis want to see own backyard before kicking the bucket according to the inaugural Fidelity Life Kiwi Bucket List survey.

The proposed merger of Marac Finance with Canterbury Building Society and Southern Cross Building Society will need to get approval from shareholders, bondholders and depositors to get over the line.