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Mel's Farewell Blog

Friday, August 5th 2011, 7:43AM 1 Comment

by FMA

It’s been great to receive some really positive messages of support in my last few weeks at FMA. Regulators don’t expect to be popular but most of the people I’ve met over the course of the last year have at least had respect for why we do what we do. We know advisers do care about their clients and this new professional era will benefit investors. Since the start of the year we’ve used this blog to help advisers get ready for change. More recently we’ve told you about how we’re monitoring and enforcing the new rules. Since FMA started you’ll have seen a marked increase in the number of media releases. Those who’ve attended conferences and roadshows will have seen me, Sean Hughes or one of the other team members there and presenting. We’ve updated and refined our website and issued more guidance (see most recently our updated disclosure pages). And it’s not just about us giving out information. We listen too. We are genuinely taking on board your feedback – whether delivered in person, through letters, or through comments on websites like this (we had a smile at the shoe blog by the way). A number of you have pulled us up recently and asked that we communicate important regulatory updates direct to you. Now that we have your details from the register we can do that. Those who were AFAs on 1 July will have already received a mail pack from us with information and flyers. We’ll also now start using email updates to keep you abreast of the information you need to know. It’s important you keep the register up-to-date so we can do this. Sue Brown, and her Primary Regulatory Operations (PRO) team will be the people you’ll hear from most regularly in future. The PRO team will be developing and leading FMA's regulatory strategies and activities relating to the primary and retail financial markets, including financial advisers. And those advisers working for QFEs, or working as brokers will also get to know Elaine Campbell and the Compliance Monitoring team who look after the entity level Commercial and Infrastructure side. Congratulations to all of you on what you’ve achieved. Except for those few we’re now ferreting out, most advisers appear to be playing the game. I’ll enjoy watching from the sidelines and wish you and your clients all the best. Mel Hewitson
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Comments from our readers

On 8 August 2011 at 12:14 pm Russell Hutchinson said:
That's a good sign off. Let us know what you go on to do next.

Best wishes,
Russell Hutchinson
Commenting is closed

 

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Lender Flt 1yr 2yr 3yr
ANZ 6.49 5.10 5.59 5.59
ANZ Special - - 4.99 -
ASB Bank 6.50 5.49 5.49 5.75
ASB Bank Special - ▼4.89 5.10 5.39
BankDirect 6.50 5.49 5.49 5.75
BankDirect Special - ▼4.89 5.10 5.39
BNZ - Mortgage One 6.90 - - -
BNZ - Rapid Repay 6.49 - - -
BNZ - Special - - 4.99 -
BNZ - Std, FlyBuys 6.49 5.19 5.39 5.29
BNZ - TotalMoney 6.34 - - -
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.45 5.75 5.75 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct 6.10 6.45 6.69 7.10
First Credit Union 6.45 - - -
HBS Bank 6.39 5.39 5.39 5.39
HBS Special - 4.99 4.99 4.99
Heartland 6.70 7.00 7.25 7.85
Heretaunga Building Society 6.45 5.40 5.40 -
Housing NZ Corp 6.74 5.70 5.99 6.29
Lender Flt 1yr 2yr 3yr
HSBC Premier 6.60 4.95 4.95 5.40
HSBC Premier LVR > 80% - - - -
HSBC Special - 5.29 5.29 5.29
ICBC 6.75 5.99 6.39 -
Kiwibank 6.40 5.39 5.49 5.69
Kiwibank - Capped - - - -
Kiwibank - Offset 6.40 - - -
Kiwibank Special - 5.09 4.99 5.39
Liberty - - - -
Napier Building Society 6.50 5.80 6.70 -
Nelson Building Society ▼6.70 ▼5.65 ▼5.95 -
Lender Flt 1yr 2yr 3yr
NZ Home Loans 6.85 5.49 5.49 6.29
Perpetual Trust 7.70 - - -
Resimac 5.84 5.60 5.65 5.79
SBS Bank 6.39 5.39 5.39 5.39
SBS Bank Special - 4.99 4.99 4.99
Sovereign 6.60 5.49 5.10 5.75
Sovereign Special - ▼4.89 5.10 5.39
The Co-operative Bank 6.45 5.15 4.99 5.35
TSB Bank 6.49 5.45 5.49 5.75
TSB Special - - 4.99 5.40
Wairarapa Building Society 6.20 5.75 5.95 -
Lender Flt 1yr 2yr 3yr
Westpac 6.40 5.49 5.49 5.59
Westpac - Capped rates - 6.74 6.99 -
Westpac - Offset 6.40 - - -
Westpac Special - - 4.99 -
Median 6.49 5.45 5.40 5.40

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