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News Round Up

Recommendations on adviser regulation due soon, Sorted a winner, Corporate spying unlikely, Macquarie expands

Tuesday, November 27th 2001, 10:09PM

The Securities Commission is hoping to make some recommendations about adviser regulation before Christmas.

Commission chairman Jane Diplock says there was a "fabulous" response to the commission's document on adviser regulation.

She says more than 40 submissions were received in total.

They were "very well thought out, reflective, very useful, and by and large very supportive of the proposal."


Related stories
Commission wants power to ban advisers - and more
Securities Commission report throws up thorny issues

Corporate spying unlikely
Investment Savings and Insurance Association (ISI) chief executive Vance Arkinstall says it is unlikely ‘corporate spies’ broke into NZ Funds Management offices in the ANZ Centre in Auckland.

"A number of ISI members have significantly larger amounts of funds under management than NZ Funds and would have no cause to be involved in any attempted security breach," he says in a statement.

"Certainly it is highly unlikely that a competing organisation would risk their reputation by engaging in such illegal actions."

Earlier story
Burglars break into leading fund manager's offices

Sorted a winner
The Retirement Commission's new financial planning web site
www.sorted.org.nz has been named the best New Zealand finance web site.

It won the best finance site category recently at the annual Netguide Web Awards.

The judges said "the site promises to live up to its name - to get you sorted on money matters - and it does it well. "We found ourselves having fun using some of the excellent features on the site and even rethinking and comparing some of our own personal finances. We especially liked the excellent easy-to-follow navigation menu, which many finance sites find difficult."

Macquarie continues to expand
Macquarie has acquired the retail stockbroking business BNP Paribas Equities Private, which has offices in Brisbane, Sydney, Melbourne, Perth and Gosford.

Macquarie also has the rights to acquire BNP's margin loan portfolio, discretionary portfolio management, premium portfolio services and cash management accounts.

« Rich sets off on a new courseSovereign takes regulation bull by the horns »

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  • Life-Info founders want industry to take it over
    “Just to emphasise that we would like this to be regarded as an INDUSTRY resource as per the headline. We receive support...”
    2 days ago by dcwhyte
  • FMA acknowledges regulatory 'burden'
    “Very good and relevant points Brent, and you have been around well long enough to know. The GFC was 'hatched' from the largest...”
    5 days ago by Winka
  • FMA acknowledges regulatory 'burden'
    “Mr Gregory forgets the most important “cost” of regulatory burden and that is lower profitability of the finance sector....”
    5 days ago by Brent Sheather
  • Look twice at insurance applications
    “I couldn't agree more, this area of advice is lacking and is a massive contributor to non-payment of claims. Clean skins...”
    5 days ago by RiskAdviser
  • Wholesale rules a missed opportunity
    “Can someone tell me what the problem is about having a number of definitions for "wholesale" as far as advisers are concerned? Is...”
    6 days ago by Murray Weatherston
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Lender Flt 1yr 2yr 3yr
ANZ 5.79 4.99 5.35 5.59
ANZ Special - 4.49 4.85 -
ASB Bank 5.80 4.85 5.14 5.49
ASB Bank Special - 4.45 4.74 5.09
BankDirect 5.80 4.85 5.14 5.49
BankDirect Special - 4.45 4.74 5.09
BNZ - Mortgage One 6.50 - - -
BNZ - Rapid Repay 5.95 - - -
BNZ - Special - 4.59 4.79 5.09
BNZ - Std, FlyBuys 5.90 4.99 5.19 5.49
BNZ - TotalMoney 5.90 - - -
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 6.70 - - -
Credit Union Baywide 5.95 5.10 5.25 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct - - - -
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 5.00 5.20 -
Housing NZ Corp 5.79 4.99 5.14 5.49
HSBC Premier 5.79 4.09 4.29 4.89
Lender Flt 1yr 2yr 3yr
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 5.70 4.59 4.69 5.09
Kiwibank 5.70 5.09 5.19 5.65
Kiwibank - Capped - - - -
Kiwibank - Offset 5.70 - - -
Kiwibank Special - 4.69 4.79 5.25
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 6.10 5.10 5.45 -
Resimac 5.00 4.86 4.75 5.30
Lender Flt 1yr 2yr 3yr
SBS Bank 5.79 4.99 5.19 5.49
SBS Bank Special - 4.59 4.79 5.25
Sovereign 5.90 4.85 5.14 5.49
Sovereign Special - 4.45 4.74 5.09
The Co-operative Bank - Owner Occ 5.75 4.59 4.85 5.25
The Co-operative Bank - Standard 5.75 5.09 5.35 5.75
TSB Bank 5.65 4.80 5.15 5.45
TSB Special - 4.55 4.75 5.15
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.84 4.99 5.29 5.59
Westpac - Capped rates - 5.15 5.25 -
Lender Flt 1yr 2yr 3yr
Westpac - Offset 5.84 - - -
Westpac Special - 4.59 4.85 5.09
Median 5.80 4.85 5.14 5.38

Last updated: 19 May 2017 9:26am

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