South Canterbury Finance and PGG Wrightson accepted to extended guarantee, Bank liquidity regime comes into play, Vision Securities sent to receiver

The long-awaited draft code of conduct of financial advisers has been released, and has offered some, though not complete, clarity on how insurance products will be classified under the new regime.

Rating agency Standard & Poor's downgraded, then upgraded, Geneva Finance after investors backed the bid to defer repayments to debenture holders and gradually remove its $30 million facility with BOS over the next five years.

Commerce Minister Simon Power has referred Strategic Finance to the Securities Commission after Act MP John Boscawen first raised concerns about the status of some of the failed finance company’s second mortgages.

Perpetual Trust defends Strategic receivership; Broadlands Finance flags liquidity risk; OPI Pacific investors waiting on receiver update.

The Investment Savings and Insurance Association has put a proposed sector standard for measurement and disclosure of the investment performance of KiwiSaver funds up for tender in a bid to get greater buy-in from the wider industry.

Kerry Finnigan, the former head of Strategic Finance, will continue to operate as a freelance consultant as the dust in the finance sector settles, and the survivors come through the other side.

The Securities Commission has taken a veiled swipe at Huljich Wealth Management in its guidelines for distribution and disclosure released yesterday.

House prices are facing downwards pressure as the property market "rolls to a halt" according to ANZ's 10 property gauges.

House values rose 5.5% in the year through February, though the speed of growth is beginning to slow down, according to QV Valuations.

Allied Nationwide Finance is looking at ways to increase is capital so it can again be eligible for the goverenment's deposit guarantee scheme.

The Treasury has questioned a proposal to beef up powers that will give the Securities Commission power to direct trustees in how they respond to breaches of trust deeds.

It appears six finance companies will miss the cut for the government's extension to the retail deposit guarantee scheme and a question mark hangs over the head of a seventh.

Brokerage McDouall Stuart has panned the Hawkins' family's bid to takeover Cynotech Holdings, telling investors "not to even think about accepting" the offer.

Profit at PGG Wrightson Finance tumbled 29% in the first half of the financial year as the finance arm of PGG Wrightson boosted its provisioning for bad loans.

Geneva Finance managing director David O'Connell wrote down the possibility of winding down the company in a letter to investors telling them the finance company's banking facilities are set to expire in 2015.