The government’s decision to hold off implementing changes from the Task Force on Financial Intermediaries is causing disquiet in the industry.

The report from the Task Force on Financial Intermediaries is now with Commerce Minister Pete Hodgson – but any changes are three years away.

Existing superannuation schemes are going to be placed in an invidious position by the government’s proposed tax changes, Association of Superannuation Funds (Asfonz) vice-president Jill Spooner says.

A National-led government would scrap Labour’s KiwiSaver workplace superannuation scheme.

A National-led government would scrap Labour’s KiwiSaver workplace superannuation scheme.

Setting the proposed comparative value method of taxing offshore investments at 70% rather than 100% would cost the government nearly a billion dollars a year, officials say.

Setting the proposed comparative value method of taxing offshore investments at 70% rather than 100% would cost the government nearly a billion dollars a year, officials say.

The government's State Sector Retirement Savings Scheme (SSRSS) has claimed a $500 million victim.

The government's State Sector Retirement Savings Scheme (SSRSS) has claimed a $500 million victim.

BT Fund Management’s New Zealand arm is not going to follow its Australian operation, and set up its own financial planning group.

The Investment Savings and Insurance Association is concerned at the Inland Revenue’s proposal for the level of tax of offshore investments using the comparative value (CV) method.

Southern Cross Healthcare has launched a first for New Zealand – a ‘health management account’.

The architect of British reforms of financial intermediary regulation, Ron Sandler, says New Zealand should be prepared to decouple advisers from product providers if it wants to build trust in the industry and encourage saving.

Fund managers bidding for a role in the government’s KiwiSaver workplace savings scheme can go into negotiations knowing ministers are committed to subsidising management fees.

A proposal from the Task Force on Financial intermediaries to restrict who can call themselves a financial adviser or some other designated term has not gone down well.

Two industry players are predicting passive funds will benefit from the government’s proposed tax changes, despite losing their tax-favoured status.