South Canterbury Finance announced today that it has been unable to complete a recapitalisation and restructure.

Wellington

Lisa Winkle has been appointed managing principal ASB Securities after heading Operations and Technology at ASB Securities for the past seven years.

The enactment of the Insurance (Prudential Supervision) Bill provides increased certainty for New Zealand insurance policy holders says Finance Minister Bill English.

Three bidders vying for SC Finance; Strategic alliance creates new platform for advisers; Share develops end-to-end advice process.

Three private bidders are seeking to invest in South Canterbury Finance, the chief executive of the beleaguered Timaru finance company, Sandy Maier, says.

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.