Lawyers say there is no evidence that the Financial Advisers Act exemption that allows them to offer financial advice in the normal course of their business is having any detrimental effect on consumers.

There may still need to be some refinement of a new provision in the Code of Conduct for Authorised Financial Advisers that will make it easier for them to offer limited advice to clients.

The Financial Markets Authority says it has robust policies in place to manage any potential conflicts of interests from its board members.

Workplace Savings (WSNZ) and the Financial Services Council (FSC) have the perfect chance to work together to provide a better representative body for the financial services sector, a WSNZ councillor says.

The Health Funds Association, the body representing insurers offering medical insurance in New Zealand, has had to estimate its market data for the September and December quarters after the resignation of Partners Life.

Entity licensing could be lead to fewer independent operators in New Zealand’s insurance sector, the departing chief executive of Fidelity Life says.

A lack of complaints and disciplinary action taken against financial advisers in New Zealand shows most are doing a sound job for their clients, the Institute of Financial Advisers says.

A Code Committee move to recognise more adviser qualifications is being hailed as good news for those who have studied to higher levels.

The Financial Markets Authority hopes new investor resources it is developing will be useful to advisers wanting to equip their clients with more information.

Advisers are better understanding their AML/CFT obligations, the Financial Markets Authority says.

A united professional association representing financial advisers would have more chance of picking up regulatory and compliance functions for the industry, the chief executive of the Institute of Financial Advisers (IFA) says.

ASB’s decision to replace its one-off low-equity fee with a low-equity margin is being tipped to put pressure on the only major bank left in the market offering a fee.

Financial services industry participants are undecided on whether there is a future role for the Financial Services Council, after the resignation of its chief executive.

The committee that administers authorised financial advisers’ code of conduct does not want professional bodies playing a more active role in regulation and licensing in the sector.

Home loan interest rates are likely to be lower in six months’ time than they are today, Westpac’s chief economist says.

Harmoney’s decision to change its fee structure will lead to higher costs for investors in the future, its founder says.