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Last Article Uploaded: Monday, May 25th, 2:17PM
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Removal of incentive means more work for advisers: Matthews

Financial advisers will have a bigger role to play in the distribution of KiwiSaver now the Government has dropped the $1000 kickstart incentive, a banking expert says.

Monday, May 25th, 6:00AM

It was revealed in the Budget last week that the $1000 will no longer be available to new KiwiSavers.

The payment has been in place since the scheme started in 2007 but was dropped in the Budget this year, effective immediately.

It has cost the Government $2.5 billion in the eight years the scheme has been running.

Massey University banking expert Claire Matthews said the move would initially put some people off signing up ...MORE»

FAA steering group manned by officials

Friday, May 22nd, 6:00AM  2 comments

Financial advisers are not represented on the Financial Advisers Act review steering group.

MORE»

[BUDGET] New KiwiSaver members miss out on Kick Start

Thursday, May 21st, 2:10PM

People enrolling in KiwiSaver from now will no longer receive a $1,000 kick-start payment, Finance Minister Bill English says.

MORE»

AML audit rush feared

There are concerns there may be a rush of authorised financial advisers trying to get their AML audits done before the end of next month.

Thursday, May 21st, 6:00AM

Reporting entities must have an audit of their risk assessment and AML/CFT programmes every two years, or when the FMA asks for one.

For most reporting entities, their first audit deadline will be the end of June, which is two years from the date the legislation kicked in.

There are about 800 reporting entities who are supervised by the Financial Markets Authority. Each business is a reporting entity ...MORE»

NZIG turns to crowdfunding

Wednesday, May 20th, 6:00AM

A crowdfunding offer is a way for interested investors to take a share of New Zealand Income Guarantee (NZIG) without having to stump up a $50,000 minimum investment, its chief executive says.

MORE»

FSPR crackdown

Tuesday, May 19th, 3:55PM

The Financial Markets Authority has confirmed a number of offshore firms have been removed from the Financial Services Provider Register (FSPR).

MORE»

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Chinese banks creeping into lending market

Friday, May 22nd, 8:34AM

Some big Chinese banks are starting to set up shop in New Zealand, but what could that mean for the residential mortgage market? MORE»

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AIA gets new chief executive

Thursday, May 21st, 10:22AM

AIA chief executive Wayne Besant is leaving New Zealand to take up a role with the company in Vietnam. MORE»

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Time running out for DIMS decision

Wednesday, April 15th, 6:00AM

With less than two months left to make a decision, a number of advisers are still unsure whether they will offer discretionary investment management services (DIMS) as of the second half of this year. MORE»

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NZAM adds to exec team

Thursday, May 21st, 9:11AM

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Warehouse plans bonds offer

Monday, May 4th, 3:10PM

The Warehouse Group today announced it is considering making an offer of new five year unsecured, unsubordinated, fixed rate bonds to refinance its $100 million senior bond maturing on June 15 for general corporate purposes. MORE»

KiwiSaver   

Removal of incentive means more work for advisers: Matthews

Monday, May 25th, 6:00AM

Financial advisers will have a bigger role to play in the distribution of KiwiSaver now the Government has dropped the $1000 kickstart incentive, a banking expert says. MORE»

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