The "total remuneration" approach to KiwiSaver has been effectively banned in legislation rushed through Parliament under urgency last week.

Dominion Finance has, as predicted by Good Returns, been placed into receivership.

Wellington

This month, Tyndall comments on the similarities – and differences – between the former high-flying Euro “tiger” economies and ourselves. This may well be the time we re-learn the benefits of economic independence, not constrained by broader economic system rules and constraints. Although challenging, we can manage our situation.

Around the world, economies are coming down to earth. Rapidly, and with a bump. In these times of poor, often negative investment returns, Peter Lynn comments on KiwiSaver.

David Ireland has been appointed the new chair of the Association of Superannuation Funds of New Zealand (ASFONZ).

ASB has appointed 46-year old British international banker, Charles Pink, as its new managing director replacing Hugh Burrett.

Nationwide

Auckland

A few more moves have been made this week in the distribution chess game. Today Good Returns reports that listed IRG Group has bought the business of Tauranga adviser and ING-supporter, Phillip King.

Tower Health & Life has released some enhancements to its Key Person Cover. This cover is designed to pay a monthly benefit if a business owner or key person is unable to work due to an illness or injury.

AIG Life has announced the departure of Jeremy Young, head of distribution – AIG Life, to new opportunities within the insurance industry in Hong Kong.

Wellington

The Reserve Bank has now officially become the regulator of the non-bank deposit-taking sector and all finance companies will have to get ratings.

Napier

Christchurch