The Minister of Commerce says it is still her intention to pass the Financial Advisers Bill before the election, and Good Returns understands the bill has been given a higher priority.

Wellington

Christchurch

Wellington

Fisher Funds founders Carmel and Hugh Fisher have pushed their stake in the business to 83% and are now considering options for bringing in new investors.

Dunedin

Auckland

Tower Investments has appointed Matthew Johns as business development manager – KiwiSaver.

Minister and CEO on regulation; Vestar vapourised; Tower changes manager of Spotlight Europe Fund; St Laurence slated for weekend rule.

Market statistics for life insurance at the end of June 2008, recorded an increase of 9.6% in the total premiums paid for in-force life policies from $1.35 billion to $1.48 billion over the past year.

Geneva Finance is carrying out a full review of its loan portfolio in response to the ongoing deterioration in market conditions.

Tower Health & Life has appointed Mike Lopes as head of intermediary distribution.

Auckland

The two big adviser associations have been ticked off by the Minister of Commerce, Lianne Dalziel, after they outlined their concerns about the latest proposals to regulate advisers.

AXA New Zealand has recently appointed Mark Ennis as General Manager of Strategy, Marketing and Financial Protection.