The most likely type of financial institution to fail and require the new deposit guarantee scheme to kick in would be of a non-bank deposit taker and would be likely to cost between $800 million and $1 billion up front, with recoveries likely to reduce the cost to between $100 million and $400 million.

Graeme Lindsay's professional life in the insurance industry was bookended by brushes with cancer.

Finance Advice New Zealand (FANZ) is asking the government to define all life, health and disability policies as consumer contracts.

The Commerce Commission shouldn't be “trying to fix something that is not broken,” according to the Finance and Mortgage Advisers Association of New Zealand (FAMNZ).

ANZ Bank New Zealand says it has looked at its data and says it shows it doesn't discriminate in terms of processing times between mortgages its own staff originate and those originated by mortgage advisers.

Perpetual Guardian Investments has already severed ties with Castle Point founder Richard Stubbs and is negotiating the possible departure of another founder, Stephen Bennie, but the two other founders, Jamie Young and Gordon Sims are staying.

The Financial Markets Authority (FMA) says it has launched civil procedings against Booster Investment Managment (BMIL) and five named individuals alleging law breaches in related party dealings in investments in wine businesses.

The financial advice industry has been resilient in the face of regulation and the economic downturn and is focused on “positivity for the future,” says Financial Advice New Zealand (FANZ) chief executive Nick Hakes.

We constantly get the message that health costs rise exponentially as the population ages but AIA NZ's data for 2023 shows that those aged 50 to 59 had the most claims accepted and accounted for more than a quarter of total claims.

Jenny Ruth digs into the latest Reserve Bank data to find how which banks are writing the most home loans.

One way Financial Advice New Zealand (FANZ) can address any areas in which some in the industry are falling short is to provide examples of best practice among its members, says FANZ chief executive Nick Hakes.

The major change the government is considering making to the Financial Markets (Conduct of Institutions) Amendment Act 2022 (CoFI) is to give the Financial Markets Authority (FMA) the right to make onsite inspections without warning.

The changes the government is considering making to the Credit Contracts and Consumer Finance Act (CCCFA) aren't the things that have made headlines, such as coffee and Netflix habits disqualifying borrowers from getting mortgages, since changes to the law came into effect in December 2021.

The government is looking at a potential overhaul of the financial services disputes resolution schemes, including imposing greater uniformity of standards, increasing oversight and increasing promotion of the schemes to raise consumer awareness.

The Reserve Bank has pushed out its likely first cut in its official cash rate (OCR) into the second half of 2025 and possibly not until the final quarter.

The clawback periods of mortgage advisers' commissions should be much shorter and brought more in line with Australian practices, the Commerce Commission has been told.