Moody's has kept New Zealand's sovereign credit rating at Aaa, despite an eye-watering foreign debt that prompted rival ratings agencies to opt for a downgrade.

Volatile markets have taken their toll on the New Zealand Superannuation Fund, which shrunk by more than a billion dollars in the five months to November.

NZX exchange-traded funds (ETFs) have suffered a big fall in funds under management, but the company's derivatives and grains trading markets are on the rise.

There was little Christmas cheer this week for former fund manager Peter Huljich, who was handed a big fine for misleading investors about the performance of the Huljich KiwiSaver scheme.

Advisers don't need to use third-party analysis of listed companies to be able to recommend them to clients, the Financial Markets Authority says.

Listed finance company and insurer Dorchester Pacific has announced it will be exiting the life insurance market and focusing on consumer insurance products.

Financial advisers could face legal action from clients if they put them in products that are later targeted by Inland Revenue for tax avoidance, a tax expert has warned.

KiwiSaver has had little success getting poor people to save and may actually reduce national saving, a report by the Treasury suggests.

A relaxation in underwriting standards will put pressure on profit margins in the life insurance industry, according to Fidelity Life chief executive Milton Jennings.

New Zealand households start saving again

The finance company sector in New Zealand continues to shrink but the surviving companies have seen an increase in profitability, according to a new report.

New advisers entering the finance industry are smart but woefully lacking in personality, financial services veteran Mike Moore says.

Concerns have been raised by AXA-affiliated advisers over new contracts offered to them by AMP, amid claims providers are trying to “contract away” responsibilities.

Further Financial Markets Authority/Serious Fraud Office joint cases, like the South Canterbury Finanance one, are unlikely once the finance companies have been through the courts.

New Zealand has been targeted in a UK crackdown on overseas pension transfers, leaving providers in a race against time to comply with the proposed new rules.