Risky business assessed in survey
The Securities Commission is carrying out a survey of financial advisers on money laundering to help conduct a risk assessment of the sector.
The commission, as well as the IFA, believe advisers need to be more vigilant when it comes to assessing the threat of fraud and anti-money laundering.
Under new legislation financial advisers are required to undertake an assessment of the risk of money laundering and the financing of terrorism they may reasonably expect to face in the course of their business.
The commission is also required to conduct a risk assessment of entities under its supervision, of which the survey is part of.
"By filling out the survey, financial advisers will be able to help the Securities Commission find out what risk the financial adviser industry faces and how to reduce this risk," IFA president Lyn McMorran says.
Your thoughts on retirement income policy
The Retirement Commission is seeking input from advisers about retirement income policy, as part of its three-yearly review.
The three main topics covered by the review are:
How the retirement income policy interacts with policies on housing, long-term care and health, as well as data requirements for reliably forecasting and modelling.
Possible products financial services are or could be providing, including KiwiSaver, and an analysis of what else could be done to enhance consumer and market trust in the sector.
The wellbeing of the current and future retired population and what role communities and the government can play. Also, how the financial crisis might affect the adequacy of retirement provisions for individuals at various life stages.
Submissions close April 30, 2010.
Tower's KiwiSaver PPP call
Tower Investments is calling for the opportunity for KiwiSaver schemes to contribute capital to infrastructure public private partnerships (PPPs).
"Public private partnerships are a logical answer to the multi-billion dollar, multi-decade funding needs of infrastructural development in New Zealand," Tower CEO Sam Stubbs says.
He says KiwiSaver schemes are natural investors in infrastructure because they have long-term investment horizons that match the long-term nature of investing in infrastructure.
Another issue that KiwiSaver infrastructure PPPs would address, Stubbs says, is that the assets would stay in New Zealand hands because only New Zealanders can invest in KiwiSaver.
Tower has also teamed up with Business Mentors New Zealand and appointed the first business mentor to emerge from an insurance provider, with insurance marketing manager Debra Chantry filling the role.
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