Archive - 2010
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July 2010
04 Jul 2010 Rates Round Up
02 Jul 2010 Interest rate decisions not so easy now
02 Jul 2010 New Code of Conduct out
02 Jul 2010 Commercial investment opportunity
02 Jul 2010 Rents will rise as house prices fall: Westpac
02 Jul 2010 OCR uncertainty
02 Jul 2010 Major cuts
02 Jul 2010 Govt expect to take two months to consult over regulation changes
02 Jul 2010 Marac merger with building societies could go ahead this year
02 Jul 2010 Now's the time for maintenance
01 Jul 2010 No prior ranking creditors ahead of St Laurence investors
01 Jul 2010 Equitable changes its approach
01 Jul 2010 Banks punch below their weight
01 Jul 2010 Retail banks market share
01 Jul 2010 Kiwibank slashes two-year rate to provide certainty
01 Jul 2010 Kiwibank cuts home loan rates
June 2010
30 Jun 2010 No obstacle to NAB bid for AXA in New Zealand
30 Jun 2010 Dorchester ‘humbled’ by debenture holders’ support for plan
30 Jun 2010 Goldman Sachs JBWere loses its RBNZ exemption
30 Jun 2010 Evitt re-joins AIA
30 Jun 2010 Legislation: freedom of choice
30 Jun 2010 Allied accuses Hanover of breaching agreement
30 Jun 2010 Non-bank sector gets new representative
30 Jun 2010 MED officials pushed for extension of QFE rules
30 Jun 2010 Solid response sees South Canterbury extend deposit rate special
30 Jun 2010 Forecasts for housing market off with the fairies
29 Jun 2010 New anti-churning rules introduced
29 Jun 2010 Westpac and Kiwibank race ahead in home loan lending
29 Jun 2010 Commercial building permits in doldrums
29 Jun 2010 NZF securitisation programme good news for NBDTs
29 Jun 2010 Financial advisers told despite the changes don't delay
28 Jun 2010 Banks battle it out for nine month deposit rates
28 Jun 2010 RBNZ to be pleased with growth
28 Jun 2010 Four adviser redundancies at ASB Securities
27 Jun 2010 Rates Round Up
27 Jun 2010 Adviserlink appoints new GM
25 Jun 2010 Tower wins right to insure ANZ wealth division customers
25 Jun 2010 A simple lesson in how monetary policy works
25 Jun 2010 Tower has a decrease of in-force premiums
25 Jun 2010 Category Two advisers can be authorised - now
25 Jun 2010 House building starting to rise again
25 Jun 2010 ANZ moves away from managed funds
24 Jun 2010 SCF news bad, but rates good
24 Jun 2010 Broker warns regulators had better be right over Hubbard
24 Jun 2010 NZF competes with banks for home loans
24 Jun 2010 ASB leads the charge
24 Jun 2010 MED proposes exempting independent advice from securities law
23 Jun 2010 Dorchester investors being offered liquidity
23 Jun 2010 Bridgecorp’s Petricivic and Roest face new fraud charges
23 Jun 2010 Continuing pressure on house prices
23 Jun 2010 All the banks have now hiked short-term rates
23 Jun 2010 Moral victory for investors; financial victory for ANZ
23 Jun 2010 Who is going to get ANZ's $45 million?
22 Jun 2010 Court action against ANZ, ING not worth the extra fine, regulator says
22 Jun 2010 ANZ settlement implications for financial advisers
22 Jun 2010 All the banks have now hiked short-term rates
22 Jun 2010 CDO Settlement: Securities Commission statement
22 Jun 2010 CDO Settlement: ANZ and ING's statement
22 Jun 2010 South Canterbury gets big ratings cut
22 Jun 2010 ANZ reaches record settlement over ING funds
22 Jun 2010 Kiwibank and Westpac rise time
22 Jun 2010 Reserve dispute resolution scheme revealed
21 Jun 2010 Hubbard flags offshore investor for South Canterbury Finance
21 Jun 2010 Auld is new at Morningstar
21 Jun 2010 Sovereign teams up with the world’s Best Doctors
21 Jun 2010 Kiwibank launches capped floating rate and hikes short-term rates
21 Jun 2010 Dunne backs call for health insurance tax deductibility
21 Jun 2010 Officials didn't ask for regulatory changes
21 Jun 2010 ANZ National quick to follow
21 Jun 2010 News round-up
20 Jun 2010 Some TDs rise with home loan rate increases
20 Jun 2010 Rates Round Up
18 Jun 2010 More banks increase short term home loan rates
18 Jun 2010 Auckland momentum follows rest of country
18 Jun 2010 Weekly wrap: What a regulatory mess we have
18 Jun 2010 RBNZ finally gets a response
18 Jun 2010 New Plymouth: Investing in the ‘Naki
18 Jun 2010 RBNZ finally gets a response
18 Jun 2010 Don't blame us: Consumer
18 Jun 2010 ASB first to hike rates
17 Jun 2010 Dorchester says Securities Commission being unhelpful
17 Jun 2010 Where to for house prices?
17 Jun 2010 How not to do it
17 Jun 2010 ASB opens the rate hike floodgates
17 Jun 2010 Banks in mortgage rate stand-off
17 Jun 2010 Reducing margins
17 Jun 2010 Van Eyk's NZ man defects to Mercer
17 Jun 2010 Simon Power pledges solution for category 2 advisers
16 Jun 2010 South Canterbury has no plans to be a bank
16 Jun 2010 More than 90% of SCF debentures will covered by extended guarantee
16 Jun 2010 Higher deposit rates here to stay, PSIS says
16 Jun 2010 Banks in stand off over home loan increases
16 Jun 2010 RBNZ to continue hiking
16 Jun 2010 Sovereign founder joins TNP board
16 Jun 2010 Who’s afraid of the big bad banks?
15 Jun 2010 Securities Commission calls Dorchester recapitalisation plan biased
15 Jun 2010 ANZ's head of broker distribution departs
15 Jun 2010 RBA stays unmoved
15 Jun 2010 Over 3,300 mortgage & insurance brokers can’t voluntarily become AFA’s
15 Jun 2010 Buyers have edge over sellers for now
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Latest Comments
FE Investments in receivership
Fei , trustees still hold large of money not yet refund fully.
1 week ago Raymond Yang
Who is responsible for notifying policy changes?
There is no doubt the obligation is on the insurer who the contract is with. Clearly it would be prudent for an adviser to assist once given clear information by an insurer to assist with the communication but to extend this further. For an insurer to attempt to slide this onto an advisers plate is abdication. The adviser can not change the contract.
2 weeks ago Darryl Scott
FMA CEO on leave
At the risk of sounding like a broken record, the fundamental flaw in the legislation came about partly through the event that Murray mentions, and also through the negligence of the Select Committee in ignoring the single most cited recommendation in all the submissions (over 34% from memory) of drawing a distinction between product sales and financial advice. To add to their misdemeanour, the Committee then added a paragraph to the Bill confirming that recommendation of one product only constituted financial advice - or words to that effect. The inherent conflict of interest lies in an individual retained by a Class 4 licensee being required to adhere to a code of conduct that requires prioritisation of client interests. To expect a product sales person to subordinate their contractual obligation to their employer is unrealistic, unworkable, and unreasonable. To emphasise, I have no issue with a product provider marketing and selling their own products - but not behind the opaque veil of legislation intended to govern financial advice. If MBIE ever gets around to review FSLAA, Financial Advisers, FANZ, and all other interested stakeholders should mount a fully-funded intensive campaign to persuade our employees in Wellington to remove class 4 licensees from FSLAA, and replace their obligations within an amended CoFI Act.
3 weeks ago David Whyte
FMA CEO on leave
@Murray: The reps seemed to be acting on their personal interests rather than the interests of advisers. Conflict of interest, isn't it?
3 weeks ago w k
KiwiSaver funds shake off Middle East tension
In this recent presentation of mine https://www.knowrisk.co.nz I show that the average Balanced KiwiSaver fund has added approximately +0.43% over and above the gross average policy Benchmark's return's. However, the averge annual costs of -0.97% for Balanced funds have eroded that to be slighly below BMK after costs consistent with typical SPIVA studies. Note this cost number is for the 45 Balanced Funds used only - for all KiwiSaver Funds it is closer to -0.70% p.a. The presentation goes on to show that quite a bit of return is being left on the table by the one size fits all view of risk.
3 weeks ago P Urbani