Pyne Gould has made two senior management appointments as part of its plan to become a publicly listed registered bank and asset management company.

Reserve Bank Governor Alan Bollard held the official cash rate at 2.50% today, as expected, and reiterated his view that the rates will stay low until the end of next year.

UPDATED AND EXCLUSIVE: Naomi Ballantyne, who finished up as ING Life managing director last week, has joined the board of an another insurance provider and is looking to join the board of dealer group Newpark as an independent director.

The Government has passed legislation extending the Retail Deposit Guarantee Scheme and changing some of its terms and conditions.

Standard & Poor's has assigned a BB rating for Hamilton-based First Credit Union, keeping the not-for-profit financial institution eligible for the government's extended retail deposit guarantee scheme.

Huljich Wealth Management has confirmed that it has sacked a number of advisers selling its KiwiSaver funds due to their selling practices.

Sovereign, has achieved the overall number one position for adviser satisfaction in the 14th annual WA Taylor Intermediary Study.

The Parliamentary inquiry into finance company collapses will not be an avenue of redress for investors in failed ventures, rather it will focus on the issues facing investors to ensure they are well-informed.

Peter Lynn brings back the debate that I first encountered when I returned to New Zealand in 1998.  Is active management worth the higher fees than passive investment? This is a more straight forward debate now that the tax incentive has been removed for New Zealand passive investors.
Helen McKenzie, Tyndall.

The China story has been well debated since our August comment.  Andrew's caution was warranted, with a 20% plus decline in their stocks in August. In the US, September has the dubious historical record as the worst month in the year for stocks, with the Dow Jones Index on average since 1928 losing 1.30%; many commentators are introducing caution into their expectations.