Nationwide

UPDATED: In another tentative sign banks are starting to gradually ease their lending criteria Kiwibank has made changes to its rates for loans with low equity levels. The changes have been made as the bank has changed the way it insures its mortgage book.

There is a new Banking Ombudsman taking over the reigns.

The Capital Markets Development Taskforce fears the new Financial Advisers Act will fail unless it is accompanied by additional stringent measures to govern the ethical conduct and description of financial advisers. 

Propertyfinance Group in the dark on recoverability of outstanding loans; Interest payments on Fidelity bonds deferred again; SCF board paving the way for Hubbard successor; ABN AMRO ups ante in five- and nine-month TD space.

Financial advisers will be unable to operate through limited liability companies under the new regulatory regime and will become personally liable for any financial advice they give.

The Institute of Financial Advisers (IFA) honoured volunteer service to the organisation last night handing out five Fellowship awards.

Southland Building Society has had its ratings affirmed by Fitch Ratings.

Grosvenor has launched a new leveraged fund to complement its current range of four multi-sector portfolios.