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Last Article Uploaded: Tuesday, March 3rd, 11:28AM
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FAA review begins

Terms of reference for the Financial Advisers Act review have been released.

Tuesday, March 3rd, 11:20AM

It signals the start of an 18-month review process.

The terms of reference say the objective of the review is to analyse the role of financial advice and financial service provider registration and dispute resolution in improving financial outcomes for New Zealanders and to assess and update the objectives of, and rationale for, regulatory intervention.

It says regulation was put in place with the intention of promoting sound an deficient delivery of financial adviser services and to encourage public confidence in the professionalism and integrity of advisers ...MORE»

Reviews should consider AML

Tuesday, March 3rd, 6:00AM

Annual client reviews are being suggested as an ideal time to catch up on customer due diligence, required under the AML/CFT regime.

MORE»

Review prompts changes

Monday, March 2nd, 6:00AM

External disputes resolution provider FSCL is to make some changes to its processes after an independent review.

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Super Fund files proceedings

The New Zealand Superannuation Fund has filed debt recovery proceedings in the English courts against Novo Banco over $200 million lost in the collapse of a Portugese bank.

Friday, February 27th, 9:58AM  1 comment

The US$150 million Oak Finance loan was made in July.

When Banco Espírito Santo failed a month later, the Oak Finance loan was placed in a successor bank, Novo Banco, that kept the collapsed lender’s good assets.

In December, the loan was moved by the Bank of Portugal to the “bad bank” of the lender, which holds assets to be liquidated.

The NZ Super Fund is part of a group including Goldman Sachs, which arranged the loan, suing the Central Bank of Portugal over their loans being excluded from the bank’s bailout ...MORE»

Principles approach to FAA review likely

Friday, February 27th, 6:00AM

Advice accessibility and suitability, as well as issues of conflict of interest, are likely to be top of the list to address as the Financial Advisers Act is put up for review, a regulation expert says.

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Where are the financial advisers?

Thursday, February 26th, 6:00AM  5 comments

One of the country’s biggest banks is having trouble recruiting financial advisers.

MORE»

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Mortgage Centre Sponsored by: 

Simple and better: RESIMAC's new loan offerings

Monday, March 2nd, 8:04PM

Greater flexibility for investors is contained in a raft of new offerings from non-bank lender RESIMAC Home Loans. MORE»

Insurance Centre Sponsored by: 

Asteron revamps trauma, commissions

Monday, March 2nd, 5:36PM

Asteron Life has launched a new trauma benefit that could allow customers to claim for the same or related condition up to three times as their condition worsens. MORE»

Regulation Sponsored by: 

FAA review timeline set out

Friday, February 20th, 6:00AM

A timeline for the review of the Financial Advisers Act has been revealed, and there are concerns that it will be too long and drawn-out a process. MORE»

People and Events Sponsored by: 

ABC and Pine sign alliance

Friday, February 27th, 8:41PM

AB Compliance has signed a strategic alliance with David Pine, of Pine Financial, based in Wellington. MORE»

Deposit Rates Sponsored by: 

Global bond yields collapse

Thursday, February 5th, 6:00AM

Global bond yields collapsed in January, driven by a combination of lower oil prices, inflation concerns and bond buying by the European Central Bank. MORE»

KiwiSaver   

More KiwiSaver information needed: Boyle

Tuesday, February 17th, 6:00AM  2 comments

Questions are being asked about whether KiwiSaver members are switching providers without understanding the consequences. MORE»

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Latest Comments
  • Where are the financial advisers?
    “my criteria of an adviser either as a client or recruiter will be: 1. someone in mid-30s upwards. 2. financially stable...”
    4 days ago by w k
  • Where are the financial advisers?
    “Not sure a 20-30 something year old adviser would generally have the necessary experience or skills to service a bank's investment...”
    4 days ago by Craig Simpson
  • Super Fund files proceedings
    “Hmmmm..... a Goldman Sachs led consortium of global investors suing the Portugese government in a Portugese court of law....”
    4 days ago by winstonkey
  • Lost loan a small proportion of NZ Super Fund
    “Nice story Regant....but it is all in the telling. Try it this way around. At my local school there are 300 kids....”
    5 days ago by Bobby
  • Where are the financial advisers?
    “In my experience, potential clients are mainly mature people who have accumulated a "nest egg" and want sound, solid advice...”
    5 days ago by traveller
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