Shares bounce on big banks boost
Financial stocks led the local stock market higher as they surged on an announcement the Australian federal government would roll back responsible lending rules.
The S&P/NZX 50 Index rose 107.19 points, or 0.9 percent, to 11,797.08. Within the index, 33 stocks rose, 10 fell and seven were unchanged. Turnover was $122.2 million.
The local market got a kick from across the Tasman after the Morrison government announced it would scrap responsible lending laws, which put the onus on banks to ensure loans were serviceable.
The Australian banks welcomed the ...MORE»
FMA: No excuses for shoddy conductFriday, September 25th, 5:44AM
After 18 months supervision of the financial sector, the FMA is calling for improvements to governance and compliance. MORE» |
Movac fund secures Kiwi Invest backingThursday, September 24th, 6:00AM 3 comments
In a first of its kind move for a KiwiSaver investment group, Kiwi Invest has entered the venture capital market through Movac Fund 5. MORE» |
Sponsored Content
Christchurch based financial advisor Patrick Clemenger talks about communicating outcomes and ensuring clients understand the advice he gives
Engaging clients in the investment arena can be challenging at times, especially with legislation around what financial advisors must provide to clients, not everyone wants to read 40, 50 or more pages of a Statement of Advice… MORE »
The ultimate client relationship relies on…
Communicating regularly and being in contact when it counts. MORE »
Day of reckoning could be messy: Zollner
Low interest rates are compressing pricing of risks and a “day of reckoning” at some point could be messy, ANZ chief economist Sharon Zollner says.
Zollner addressed the Financial Advice NZ conference, being held across three days this week.
She said very low interest rates had forced people to take a “remarkably relaxed attitude to risk”. “Actual risks are really elevated but priced risks are not.”
Some people were taking on too much risk, she said.
“Are we putting off the day of reckoning by trying to save every ...MORE»
Time is running out for 2000 unregistered advisersTuesday, September 22nd, 6:00AM 2 comments
The FMA warned that the clock is ticking for advisers who had not yet gained transitional license for the new financial advice regime. MORE» |
Ratings agency welcomes climate risk reportingMonday, September 21st, 6:00AM
Requiring New Zealand’s financial sector to report on its climate change risk has been welcomed by ratings agencies. MORE» |
|
News Bites
|
Sponsored by: |
|
Cullen reflects on KiwiSaver, Super Fund and capital gains
Speaking to a CFA NZ conference Sir Michael Cullen reflected on his career commenting on KiwiSaver, NZ Super Fund and capital gains tax. MORE»
|
GoodReturns TV
|
[GRTV] Depressing imbalances in IP market: Hutchinson
There are “distressing imbalances in the income protection market” says Russell Hutchinson, director of Chatswood Consulting. MORE»
|
Investments
|
Sponsored by: |
|
ESG themes from company reporting season
This reporting season has seen a strong focus on social considerations, unsurprisingly triggered by Covid-19, which has presented a challenge but also an opportunity for companies writes Harbour Asset Management. MORE»
|
Sponsored by: |
|
TAP launches adviser academy to 'raise the bar for professionalism'
As new FMA regulations are set to change the way that advisers work, TAP launches an academy to bring New Zealand advisers up to the new standard. MORE»
|
TMM Online
|
Australia scraps responsible lending laws
The Australian government has axed responsible lending laws in "the most significant reforms to Australia's credit framework in a decade". MORE»
|
Sponsored by: |
|
Former AMP Capital man joins Salt
Salt beefs up its team with the appointment of a former AMP Capital manager. MORE»
|
Sponsored by: |
|
KiwiSaver - After the Covid downturn
Eight KiwiSaver experts discuss how the scheme performed during the Covid downturn and discuss what needs to change. MORE»
