Commission structure may need Govt intervention: FMA
An insurance industry reluctant to move on high upfront commissions may find the Government does it for it, the Financial Markets Authority says.
It and the Reserve Bank yesterday released their response to insurers’ reports on what they planned to do as a result of the regulators’ conduct and culture review of the sector.
The FMA and Reserve Bank said they were disappointed. Some work plans were not deep or broad enough, chief executive Rob Everett said, and even those that were did not make it clear they were committing the resource ...MORE»
NZ shares gain: F&P Healthcare rallies on big volume, Synlait extends gainTuesday, September 17th, 5:56PM
New Zealand shares snapped a six-day decline as export-focused firms such as Scales Corp and Fisher & Paykel Healthcare benefited from a weaker currency. Synlait Milk extended its gain amid merger and acquisition activity in Australia's dairy sector. MORE» |
Insurer response 'not good enough'Tuesday, September 17th, 10:03AM 6 comments
Commerce Minister Kris Faafoi says insurers are "passing the buck" to advisers. MORE» |
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Wealth management now wags the stock-broking dog
Could the lack of new listings on NZX be as simple as New Zealand not having enough traditional stock-broking and merchant banking firms?
The capital markets review's report mentions the issue: "Each of the five primary retail NZX firms has moved from broking models to wealth management models with a concentration on asset allocation and portfolio construction," it says.
"This has been beneficial for those who get this advice and service but has been at the cost of smaller-cap companies and those not covered by research," ...MORE»
Minister says Govt will force changeTuesday, September 17th, 6:05AM
Delegates at the Financial Services Council annual conference were given a clear message that they needed to “up their game”, or the Government would intervene. MORE» |
Nikko launches high-risk 'disruptors' fundMonday, September 16th, 6:00AM
An investment fund opened to the public today will give investors access to disruptors, Nikko Asset Management says. MORE» |
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Commission structure may need Govt intervention: FMA
An insurance industry reluctant to move on high upfront commissions may find the Government does it for it, the Financial Markets Authority says. MORE»
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Pepper Money launches in NZ
Australian non-bank lender Pepper Money has launched mortgage lending operations in New Zealand, with a vow to bring Kiwi borrowers unprecedented levels of choice and flexibility in their mortgage options. MORE»
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Anti-commission advocate appointed to FMA board
Two new appointments have been made to the Financial Markets Authority board; One is opposes commission payments and the other a director who has polarised people. MORE»
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FSC KiwiSaver overhaul: Boost access to advice
Financial advice could be provided free or at a discount to SuperGold cardholders, or be made tax-deductible, the Financial Services Council has suggested among its package of recommendations to overhaul KiwiSaver. MORE»
