TOWER’s board has refused to comment on speculation that it is on the verge of selling its life insurance business.

New Zealand shares offer solid opportunities for investors this year, a commentator says, despite warnings of overheated financial markets. 

Investors fear the first payout from the LM First Income Mortgage Fund could be in jeopardy after LM Investment Management called in administrators last night.
 

If brokers are doing their jobs correctly, they should be able to match any special offer touted by the banks, says Glen McLeod, founder of Edge Mortgages.

Sovereign has retained its market dominance in the December quarter, the latest statistics from the  Financial Services Council reveal.

ANZ has announced a one-year fixed home loan rate of 5.19% for a limited time - and then it is increasing the rate. It has also increased its six month and two year rates.

Today’s official cash rate announcement and monetary policy statement will have come as a shock to those who had been predicted an increase in the rate this year, commentators say.

Insurance companies funded by re-insurers could incur a big new debt on their books depending on the outcome of a review of reinsurance funding arrangements being carried out by the Reserve Bank.

ASB is offering a 42-inch LED television and up to $1000 to people who take out loans or refix them with the bank, even if they are existing customers.

Economists expect the Reserve Bank to leave the Official Cash Rate unchanged at 2.5% this Thursday. But more now expect the rate to rise before the end of the year.

TSB bought into a stake in a KiwiSaver fund manager without having any authorised financial advisers on staff.

UPDATED: Up to $100,000 has been handed out in compensation to customers who say their insurance advisers were negligent, according to Financial Services Complaints Limited.

[UPDATED] Rumours are circulating that TOWER is on the verge of selling its life insurance business to Fidelity Life – and is set to announce the deal later this month.

AMP says a former staff member who stole nearly $500,000 was an isolated case.

The Financial Markets Authority’s latest compliance focus report shows it will become less lenient with non-compliant advisers, says Peter Leitch, chairman of the Professional Advisers Association.

The Financial Markets Authority has revealed what it will have its eye on in 2013 - and it's encouraging industry participants to dob in others who aren't meeting the standards.