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Last Article Uploaded: Thursday, October 23rd, 11:45AM
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Latest Headlines

Small part of business can mean big compliance costs

Many advisers are expressing frustration that a small part of their businesses can be responsible for increasing their compliance requirements significantly.

Thursday, October 23rd, 6:00AM

That’s according to AML Solutions’ Richard Manthel, who said being caught by AML rules could mean a lot of work for small advice businesses in particular.

Reporting entities had to file their first AML annual return on August 30. They are also required to be audited every two years.

Manthel said advisers’ compliance costs had skyrocketed over recent years and there was frustration from many about their obligations under the AML rules ...MORE»

'Growing group want advice'

Wednesday, October 22nd, 6:00AM

Online KiwiSaver advice offerings will never replace personalised advice, says the founder of one that went live this week.

MORE»

Commission questions to be asked

Tuesday, October 21st, 6:00AM  3 comments

Possible restrictions on adviser commissions are likely to be considered as part of the Financial Advisers Act review next year, legal experts say.

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FAA review 'starting with a blank slate'

Next year’s review of the Financial Advisers Act will be a balancing act, one commentator says.

Monday, October 20th, 6:00AM  1 comment

A review of the FAA will start next year and is believed to be set to be wide-ranging.

Bradley Kidd, of legal firm Chapman Tripp, said there were areas of the law that clearly needed attention.

He said it was important that advisers could offer advice on new products such as crowdfunding. At present, that is difficult because advisers are required review a product before they recommend it. That is not hard for listed stocks with offer documents but could be tricky for small offers that do not have normal disclosure requirements ...MORE»

'Ross a hit to confidence in advisers'

Friday, October 17th, 6:00AM

New Zealand’s investing public had just started to regain trust in financial advisers when David Ross was uncovered as a fraudster, a panel discussion in Auckland was told last night.

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Don't discount small caps: Gaynor

Thursday, October 16th, 6:00AM  1 comment

Investors should not be afraid of funds that have higher proportions of small cap stocks in their portfolio, says Milford Asset Management’s executive director.

MORE»

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Criteria for lifting LVR rules reviewed soon: Wheeler

Thursday, October 23rd, 12:00PM

Next month’s Reserve Bank Financial Stability Report will review the state of the housing market and the implications of that on loan-to-value restrictions, the Reserve Bank governor says. MORE»

Insurance Centre Sponsored by: 

Fidelity posts record result

Monday, October 13th, 6:00AM

Fidelity Life’s record profit result shows its acquisition of TOWER’s life insurance business has been a success, its chief executive says. MORE»

Regulation Sponsored by: 

10% miss Information Return deadline

Thursday, October 2nd, 6:00AM

Ninety per cent of the inaugural AFA information returns were submitted on time. MORE»

People and Events Sponsored by: 

Grosvenor marketing man leaving

Monday, October 20th, 9:08AM

Grosvenor's long-serving marketing manager Andrew Lendnal has resigned. MORE»

Deposit Rates Sponsored by: 

KIPT bonds oversubscribed

Friday, July 11th, 5:02PM

Kiwi Income Property Trust’s offer of seven-year bonds has been oversubscribed. MORE»

KiwiSaver   

KiwiSaver members told: Don't forget tax

Thursday, October 23rd, 6:00AM

KiwiSaver members are being told to consider the impact of tax on their investments. MORE»

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Latest Comments
  • Commission questions to be asked
    “I feel that all risk commission/bonuses payable should be disclosed in dollar terms, and in the event of replacement business...”
    2 days ago by macca
  • Commission questions to be asked
    “The commissions in Australia on personal risk insurance are around 115% of initial premium- already well below NZ levels....”
    2 days ago by Mike Naylor
  • Commission questions to be asked
    “Like most things that are considered, the consumer reaction is unlikely to be taken into account. It’s less about fees...”
    2 days ago by Pragmatic
  • FAA review 'starting with a blank slate'
    “It is quite critical that legislators etc have some knowledge of investment theory before they legislate. For example Mr...”
    3 days ago by Brent Sheather
  • Don't discount small caps: Gaynor
    “Brian is quite correct. Also PIE funds is, and remains, a brilliantly successful manager. Massive return from a specialty. If...”
    7 days ago by NormanStacey
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