Do YOU agree with Labour's Superannuation policy?
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Do YOU agree with Labour's Superannuation policy? |
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The Securities Commission is planning to gazette an exemption notice this week that will allow UK based funds to offer their products in New Zealand.
Currently all foreign funds, expect those in Australia, are banned from New Zealand. However, the commission has had enquiries from people wanting to promote other funds in New Zealand, and earlier this year it started on a process which would give exemption notices to funds domiciled in other jurisdictions.
Chief executive John Farrell says the UK exemption notice was dealt with first as a number of firms want to promote UK funds in New Zealand.
The commission is not working on an exemption notice for United States funds as it has had no request.
For earlier stories
Foreign funds to be welcomed
UK Funds first to list
Labour's super problem
Labour's plans to implement its superannuation policy aren't a given.
As reported earlier Labour's coalition partner, the Alliance, doesn't support the policy.
Incoming finance minister Michael Cullen acknowledges he doesn't have parliamentary support for the Labour policy.
Read the full story here in SuperTalk.
Also, pressure is coming on the new Government, even before it is sworn in, to keep the Super 2000 Taskforce.
To see who says what visit supertalk.co.nz
Have your say on Labour's policy and the Taskforce's future in SuperTalk's discussion forum.
FPA Tapes
Have you heard the Financial Planning Association of Australia's conference was excellent? Are you disappointed you didn't make it to Sydney for the convention? Don't worry audio cassettes of all the sessions are now available through Good Returns' bookstore.
Click here to order your tapes now.
Capital Properties successful
Capital Properties says its takeover offer for Shortland Properties has closed and that all outstanding conditions have been satisfied or waived.
Capital Properties now holds 95 per cent of Shortland and will be proceeding to compulsorily acquire the balance.
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