Should advisers have to disclose who they don't work with?
The Commerce Commission has asked whether advisers should have to tell clients which lenders they were not accredited with, as is mandated in Australia.
The Australian Securities and Investments Commission (ASIC) requires mortgage advisers to disclose which lenders they did not deal with.
Speaking at the the Commerce Commission's three day conference on competition in banking mortgage adviser Sarah Curtis spoke in favour of "negative disclosure" - that is disclosing lenders an adviser does not deal with.
Leigh Hodgetts,...MORE»
[UPDATED] ComCom told clawback periods need to be reducedThursday, May 16th, 6:09AM 6 comments
The clawback periods of mortgage advisers' commissions should be much shorter and brought more in line with Australian practices, the Commerce Commission has been told. MORE» |
NZFSG adds external board memberWednesday, May 15th, 8:00AM
Former AMP executive and current member of Code Committee joins NZ Financial Services Group (NZFSG) board. MORE» |
Should Kiwibank move faster on being ready for open banking?
Some fintech organisations are calling on Kiwibank to join the big four banks in being ready for open banking this year rather than waiting until 2026 as the government-owned bank had previously pledged.
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Businesses must realise that despite their costs jumping 10%, they can only raise prices 2% and must find savings and boost productivity, otherwise monetary policy won’t be eased and interest rates won’t fall.
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The one-year fixed interest rate is the most popular for mortgage borrowers as economists continue to pick this November as possibly when the RBNZ might lower the OCR.
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