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Last Article Uploaded: Thursday, March 23rd, 10:05PM
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Dodds: All Blacks must be better than club rugby

Advisers who are thinking about ducking personal liability by becoming financial advice representatives under the new regime have been given a serve by Institute of Financial Advisers chief executive Fred Dodds.

Thursday, March 23rd, 6:00AM  3 comments

The Ministry of Business, Innovation and Employment has published a series of questions and answers on the proposed new rules to govern the financial advice sector.

The exposure draft of the Financial Services Legislation Amendment Bill is out for consultation.

One question asks: Why would anyone be a financial adviser if they can have the lesser personal liability of being a financial advice representative?

“Some scenarios in which a consumer seeks financial advice will involve a level of complexity or uncertainty that cannot be adequately addressed using a financial advice provider’s predetermined processes, controls and limitations," MBIE said ...MORE»

Ethical fund set for ASX wants Kiwi money

Thursday, March 23rd, 5:59AM

Australian fund manager Morphic Asset Management hopes to attract New Zealand money into its new Ethical Equities Fund.

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MBIE: Tell us what's better than FAR

Wednesday, March 22nd, 6:00AM  10 comments

With just over a week left of consultation, the Ministry for Business, Innovation and Employment has received just 10 submissions on the law that will transform the financial advice sector. But it says it knows there are concerns about some aspects - and wants to know how it could be made better.

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KiwiSaver transfer lags a concern

There are calls to streamline the process of transfers between KiwiSaver schemes, to reduce the burden on providers and members.

Tuesday, March 21st, 6:00AM

KiwiSaver transfers are in the Financial Markets Authority’s sights. It has  requested information from all providers about transfers in the last quarter of last year, broken down to the number of days a transfer took to process.

Binu Paul, founder of SavvyKiwi, said there were problems with the current situation.

"There is too much lag between when an investment decision to move is made, and when their account balances actually get transferred, with some taking more than a month," he said ...MORE»

Future returns may be half what investors used to: Singh

Sunday, March 19th, 8:13PM

A changing investment environment is likely to blunt investors' returns over the next decade - and give active managers a chance to shine, it has been predicted.

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No monitoring team, no plan for AFAs: FMA

Friday, March 17th, 6:00AM

The Financial Markets Authority has revealed it has no staff members specifically tasked with monitoring financial advisers, and no set plan of how to do so.

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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»

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Reaction: OCR - 'Nothing to see here'

Thursday, March 23rd, 10:20AM

Interest rates look set to remain low for some time following a Reserve Bank OCR announcement this morning which was as expected and determinedly neutral, according to economists. MORE»

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Partners gets an upgrade from AM Best

Thursday, March 23rd, 12:53PM  1 comment

Partners Life has had its credit rating upgraded on the back of strong earnings and an investment from Blackstone Group. MORE»

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FMA warns on AML, won't name and shame

Wednesday, February 8th, 11:20AM

Twelve reporting entities, including advisers and advice firms, have been handed formal warnings for breaches of the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) laws. MORE»

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JBWere appoints adviser

Thursday, March 23rd, 6:00AM

ANZ private bank associate director jumps ship. MORE»

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UDC gets downgraded on sale news

Thursday, January 12th, 10:23AM

UDC has had its credit rating down-graded following ANZ's announcement it plans to sell the business to a private Chinese conglomerate, and questions are raised about the future of the finance company. MORE»

KiwiSaver   

Deadline needed for clean default schemes: Greens

Thursday, March 23rd, 1:35PM

[UPDATED] There are calls for the Government to give KiwiSaver providers a set deadline to divest from companies involved in the manufacture of cluster bombs, landmines and nuclear weapons. MORE»

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