RBNZ says there's a moral hazard risk with deposit guarantee

There's a “moral hazard risk” the the deposit guarantee scheme could lead some people to chase the higher interest rates offered by non-banks, Reserve Bank governor Adrian Orr told journalists.

You're right. There is a moral hazard when you provide a blanket guarantee,” Orr said in answer to a question.

That's one of the reasons why New Zealand “has been one of the last countries on this earth” to institute such a guarantee.

The scheme is currently scheduled to take effect from mid-2025 and the RBNZ is still consulting on how it will apply proportionality and what ...MORE»

RIAA launches investor guide on AI and human rights Wednesday, May 1st, 6:48AM Potential harm to people, reputational and operational risk to companies, regulatory and financial risk - all reasons why investors should care about AI and human rights. MORE»

Building active portfolios, building conviction levels Tuesday, April 30th, 6:01AM Octagon looks to enhance the returns for our customers by being an active manager in the markets we invest in. This means, by definition and style, we are not passive investors who simply buy the index or the sector, rather we apply a disciplined process that allows the Octagon portfolio managers to identify when and why an asset is mispriced, and take advantage for our clients. MORE»

Flint: The platform of mystery

Online fund platform Flint Wealth says things are going well but won't disclose how much funds it has on platform.

The Flint Wealth's founders say a large financial advisory firm is already using the Flint platform and another fund manager is about to start using it as a “white label” service.

However, co-founders Darren Howlin and Oliver Trusler refuse to say how much people have invested into funds on the Flint platform.

Good Returns pointed out that other platforms, including InvestNow and ...MORE»

Mint engagement backs battle against child porn Thursday, April 25th, 6:49AM As part of its engagement programme, Mint Asset Management has been talking to internet service providers about combatting the growing problem of child sexual abuse material (CSAM). MORE»

Refreshed liquidity guidance a step forward Wednesday, April 24th, 11:17AM  1 comment Updated guidance from the Financial Markets Authority on how fund managers and supervisors can effectively manage liquidity has been welcomed by the boutique investment group (BIG). MORE»

News Bites

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Would-be scammer convicted after running one of biggest pyramid schemes in NZ

A pyramid scheme promoter who says she was going to “make history as one of the biggest scammers in New Zealand” has been convicted on five charges laid by the Commerce Commission under the Fair Trading Act. MORE»

GoodReturns TV

[GRTV] A trip around investment issues with MyFiduciary’s Chris Douglas

It’s not just changes to the trustee tax tax rate that’s driving PIE growth, MyFiduciary principal Chris Douglas tells Good Returns TV. MORE»

Investments

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A possible reason for the recent weakness in EBOS and Spark share prices

In this article look at what inclusion or exclusion in an important index can mean for a share price. MORE»

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Acquisition marks significant strategic milestone for Wealthpoint

Wealthpoint buys general insurance business and now focuses on other enhancements to its offering MORE»

TMM Online

Mergers and acquisitions expand North Shore mortgage business

Takapuna-based mortgage company adviceHQ is expanding. MORE»

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Financial Advice NZ appoints new Head of Professional Development

Former board member becomes Fin Advice NZ's new head of professional development. MORE»

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Best and worst KiwiSavers according to Consumer

Kiwi-owned providers have come out on top of Consumer’s annual KiwiSaver satisfaction survey. MORE»