[The Wrap] Regulators need to be wary of AMP Life deal
One of the biggest deals in New Zealand’s financial services industry is going on largely unnoticed at the moment; arguably because there is so much other change going on at present. It’s time the spotlight was put on the deal.
AMP’s proposal to sell its life business to Resolution Life is the largest transaction in financial services since ANZ bought the National Bank.
AMP has the second largest in-force life insurance book in New Zealand with around 200,000 policyholders.
To date these people have had next to no information about the deal. No doubt when communications start they will have a soothing theme to them ...MORE»
Earnings season rewards investorsFriday, February 21st, 6:00PM
New Zealand shares edged higher today, rounding out the second week of major earnings with a 2 percent weekly gain. MORE» |
NZ Super Fund: Some coronavirus losses will be recovered, others gone for goodFriday, February 21st, 7:17AM
Coronavirus is likely to take the heat out of the global economy, the NZ Super Fund says, but it still expects 2020 to be a less turbulent year than 2019. MORE» |
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Wealthpoint questions efficiency of authorised bodies
With time running out until new regulatory reforms are introduced in late June 2020, Wealthpoint has followed with interest the industry discussions taking place about various FAP structures that may exist post June. MORE »
Charges laid against Kloogh
Former financial adviser Barry Kloogh, who allegedly ran some type of Ponzi scheme, has appeared in court for the first time.
He faces a range of charges, including forgery.
The Serious Fraud Office (SFO) alleges he defrauded investors of at least $15.7 million.
Kloogh faces representative charges of false accounting, false statement by promoters, theft by person in special relationship and obtaining by deception. He also faces individual charges of forgery, theft by person in special relationship and obtaining by deception ...MORE»
Generate offers compensationThursday, February 20th, 10:28AM 2 comments
Hacked KiwiSaver provider Generate is offering to reimburse members for replacement identification documents, or waive their fees. MORE» |
Active comes out on top in FMA debateWednesday, February 19th, 10:46PM 2 comments
Active management was declared the winner on the night when the Financial Markets Authority debate pitted fund managers against each other to discuss what strategy delivered the best outcome for investors. MORE» |
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