BNZ's Tony Alexander explains why RBNZ and politicans are wrong, why the next OCR movement will be upwards and what to do now.

The days of earning commissions from selling investments are nearly over. That's the view if Investment Savings and Insurance Association chief executive Vance Arkinstall.

The Securities Commission has announced its proposal to regulate financial advisers by late next year and is seeking submissions on the draft regulation.

Triplejump has gained two new advisers, both in the South Island.

FundSource says the majority of funds covered in its reports are showing positive returns for the three months ending May 31.

Auckland

TSB Bank has reduced its 2 year fixed-rate home loans to a nationwide low of 5.99%.

Wellington

About half of the 200 or so investors gathered at the ING roadshow in Napier yesterday indicated they were ready to accept an offer from the fund manager to redeem their units in the group's two underwater CDO funds.

Economists have been a little bit surprised about the market's reaction to last week's official cash rate announcement, particularly the consequent rise in the New Zealand dollar and pricing in an earlier rise in mortgage rates than the Reserve Bank is forecasting.