There is concern in the financial adviser industry surrounding the draft code requirement for advisers to be whistleblowers and the lack of protection for that role.

Just as the market and economists were locking in predictions for a June rate hike after a speech by Governor Bollard and strong employment figures last week, the situation in Greece derailed any certainty within 24 hours.

The labour market numbers for the March quarter shocked economists and the market yesterday and prompted a shift in market pricing for when the Reserve Bank will start raising the Official Cash Rate (OCR).

If monetary policy tightening starts in June as BNZ still expects, then for those planning to have a mortgage exposure for three years there is a forecast benefit near 0.5% for fixing three years rather than floating, says BNZ economist Tony Alexander.

Fund managers believe that the ISI’s voluntary policy to discontinue the payment of commissions on investment products needs detailed planning, consultation and transition arrangements to work.

The Professional Advisers Association (PAA) says everyone is focusing on the idea that if you get paid a commission, perhaps the advice is not right, however it believes that the method of remuneration, be it fee and/or commission, are both viable and fair.

Due to the rapid growth of Newpark Financial Services over the last 12 months it has brought on board Mark van der Merwe as its business development manager (BDM).

Commerce Minister Simon Power says the New Zealand government has no plans to ban the use of commissions.

The Investment Savings and Insurance Association (ISI) said yesterday that it is finalising an announcement that will result in a voluntary policy to discontinue the payment of commissions on investment products, including KiwiSaver. Meanwhile the Australian government has said commissions are to be banned on investment products in Australia.

Borrowers need to acknowledge that we are not going to see lovely low long term fixed housing rates until some completely unknown year down the track says BNZ economist Tony Alexander.

The Investment Savings and Insurance Association (ISI) has released improved guidelines to assist consumers who are considering replacing an existing life insurance policy.

National Australia Bank (NAB) is challenging Australia's antitrust regulator after its bid for AXA Asia Pacific was denied.

SovNet announced yesterday that all of its business development managers are becoming authorised, it will pay for advisers to become authorised, it has chosen its Dispute Resolution Provider and it is automating the six-step process with SovNet X-Plan in preparation for regulation.

Financial advisory training body ETITO has launched its registration and booking system which means financial advisers can start booking competence assessments for the National Certificate in Financial Services.

The last important release ahead of the Reserve Bank's April Official Cash Rate (OCR) review next week is the Consumers Price Index (CPI) for the March quarter.

Borrowers could think opportunistically about hopping into, at the longest, a two-year rate in the next two or three months just ahead of the Reserve Bank tightening monetary policy, says BNZ economist Tony Alexander.