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.

Some fintech organisations are calling on Kiwibank to join the big four banks in being ready for open banking this year rather than waiting until 2026 as the government-owned bank had previously pledged.

There's a “moral hazard risk” the the deposit guarantee scheme could lead some people to chase the higher interest rates offered by non-banks, Reserve Bank governor Adrian Orr told journalists.

Online fund platform Flint Wealth says things are going well but won't disclose how much funds it has on platform.

Banks said they preferred tweaks to rather than repeal of the Credit Contracts and Consumer Finance Act (CCCFA) and that's what the National Party-led government has delivered.

NZX's first quarter earnings rose 23.5% on a 14.8% jump in revenue, chair John McMahon told the annual shareholders' meeting.

There has to be some question over the Flint Wealth management platform's future after Harbour Asset Management and Grace Sterling subsidiary Trustees Executors apparently refused to continue funding it.