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FMA finds room for improvement

Consumers still feel they are not getting enough information about the fees and costs associated with the financial products they hold, and why they are suitable choices.

Friday, July 21st, 6:00AM  4 comments

The Financial Markets Authority has released the results of its first annual survey of consumers' experience of financial markets conduct.

It follows the release of the FMA's conduct guide, which set out how it wanted providers to behave and what investors should expect.

This year, the report does not name individual providers but FMA director of external communications and investor capability Paul Gregory said it had been made clear to the industry that they would be identified in future ...MORE»

Robo exemption would clarify murkiness: FSF

Friday, July 21st, 5:59AM

Consumers could be put at risk if the Financial Markets Authority does not allow roboadvice to be deployed soon, the Financial Services Federation is warning.


FMA overstepping bounds: Weatherston

Thursday, July 20th, 6:00AM  1 comment

[ADDS FMA COMMENT] Financial adviser Murray Weatherston says the Financial Markets Authority does not have the legal standing to offer the exemption it is proposing, to clear the way for roboadvice.


Peters wants spotlight on banks

There is support among the financial advice sector for Winston Peters' call for an investigation into banks.

Thursday, July 20th, 5:59AM  1 comment

The NZ First leader said there should be a banking inquiry, focusing on bank charges, the dominance of Australian-owned banks in this country and ways to improve local ownership in the sector.

He said $4 billion in profits was being "extracted out of the economy".

Banking inquiries have been held in Australia, largely related to conduct issues.

Rod Severn, chief executive of the PAA, said any inquiry that produced more transparency in a large institution was good for that organisation and for the public ...MORE»

Performance fees still need work: Morningstar

Wednesday, July 19th, 12:22PM  2 comments

[UPDATED, ADDS FMA COMMENT] Some New Zealand fund managers are still charging inappropriately structured performance fees, despite FMA attempts to offer guidance, Morningstar director of manager research ratings, Asia-Pacific, Chris Douglas said.


Will bonds bail you out next time?

Wednesday, July 19th, 6:00AM

The traditional wisdom is that investors typically benefit from a negative correlation between equities and bonds, with falling stock markets being associated with buoyant fixed interest markets as bond yields decline (and vice versa), thereby smoothing combined returns. 



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Insurance Review Sponsored by: 

Industry must face up to trend for commission regulation

Friday, July 15th, 11:51AM  8 comments

Massey University's Michael Naylor discusses the FMA's report on insurance replacement business. MORE»

Mortgage Centre Sponsored by: 

OCR held again - here's what RBNZ had to say

Thursday, June 22nd, 9:00AM

The Reserve Bank today left the Official Cash Rate unchanged while saying major challenges remain. MORE»

Insurance Centre Sponsored by: 

Kiwi Company Attracts $200 Million Global Investment

Friday, July 21st, 10:11AM

Kiwi Company Attracts $200 Million Global Investment MORE»

Regulation Sponsored by: 

FARs - where's the accountability?

Wednesday, March 29th, 6:00AM  16 comments

It is appropriate for financial advice providers to be accountable for their financial advice representatives, because they are simply acting as a conduit between the provider and the client, the Ministry of Business, Innovation and Employment says. MORE»

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Lyndal Cruickshank Brunt joins Plus4 Insurance Group

Thursday, July 13th, 9:19AM

Plus4 Insurance Solutions, the national insurance advisory and financial services group, today announced that Lyndal Cruickshank Brunt, a Registered Financial Adviser based in Queenstown, has joined the group. MORE»

Deposit Rates Sponsored by: 

Finance boost for UDC buyer

Monday, July 3rd, 8:34PM

TIP Trailer Services, a subsidiary of HNA Group leading the purchase of UDC from ANZ, has secured new financing arrangements to a total of $2.7 billion for UDC which will be effective when the sale is complete. MORE»


ANZ launches scheme to help retain KiwiSaver clients

Friday, July 14th, 6:00AM

ANZ is launching a new system through which it hopes to hold on to more of its KiwiSaver members. MORE»

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Latest Comments
  • FMA finds room for improvement
    “Brent - I suspect you're not alone. I've heard of similar experiences and agree with the call to action....”
    2 days ago by dcwhyte
  • FMA finds room for improvement
    “Hi David No I didn’t bother alerting the FMA re the performance data because, from memory, I had previously alerted...”
    2 days ago by Brent Sheather
  • FMA finds room for improvement
    “Agree with Brent's comments - and would ask if the performance data cited has been forwarded to the FMA for action? With...”
    3 days ago by dcwhyte
  • FMA finds room for improvement
    “Very strange that “consumers still feel they aren’t being told the full story about fees” yet the FMA and the CFFC...”
    3 days ago by Brent Sheather
  • FMA overstepping bounds: Weatherston
    “I was under the impression that the FMA was the primary regulator and enforcer of the law, not the law maker themselves....”
    3 days ago by Pragmatic
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