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New Code Committee members finally revealed

Finally, the mystery has been solved.

Sunday, June 26th 2022, 5:57PM 1 Comment

by Jenni McManus

At the urging of Good Returns and one of our very persistent readers, thefinancial advice Code Committee has finally updated its website to reveal the names of its two new committee members.

According to Commerce and Affairs Minister David Clark, the appointments were made in mid-April, after the committee had been operating unlawfully for almost a year with less than the
statutory minimum number of members.

But while he notified our reader – a senior adviser – of the appointments, Clark failed to identify the two new members. And while the minister said they were appointed more than two months ago, their names had not found their way onto the committee’s website.

The minister is required by law to appoint new members when their number falls below seven. Since July last year, the committee has been operating with only six.

The two new members are Karen Coutts and Erin Jurgeleit.

Coutts is one of two consumer affairs representatives on the committee. She is experienced in iwi and pan-Māori governance with a special interest in Māori economic development. Coutts affiliates
to Ngai Tahu and Te Aitanga-a-Mahaki.

Jurgeleit is a product development, risk management and regulatory compliance consultant. She was previously head of insurance product at Next Insurance and was a senior leader in Pay Pal’s product engineering team.

Their terms expire in April 2025.

Clark, however, has another problem on his hands. While the committee now has eight members, the terms of three of them expire at the end of next month. So, to maintain the statutory minimum, Clark has just over a month to find and appoint two new members.

Tags: David Clark

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Comments from our readers

On 1 July 2022 at 4:20 pm Eyeinthesky said:
About as much relevance as having Gordon Ramsay on the Code Committee.

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Lender Flt 1yr 2yr 3yr
AIA 6.35 5.25 5.45 5.99
ANZ 6.34 5.59 6.05 6.29
ANZ Blueprint to Build - - - -
ANZ Special - 4.99 5.45 5.69
ASB Bank 6.35 ▼4.99 5.45 5.69
Avanti Finance 6.65 - - -
Basecorp Finance 7.25 - - -
Bluestone 6.89 - - -
BNZ - Classic - 4.95 5.39 5.69
BNZ - Mortgage One 6.39 - - -
BNZ - Rapid Repay 6.39 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Std, FlyBuys 6.39 5.55 5.99 6.29
BNZ - TotalMoney 6.39 - - -
CFML Loans 7.25 - - -
China Construction Bank - 5.35 5.80 5.99
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - 4.89 - -
Co-operative Bank - Owner Occ 6.25 4.99 5.39 ▼5.69
Co-operative Bank - Standard 6.25 5.49 5.89 ▼6.19
Credit Union Auckland 5.95 - - -
First Credit Union Special 5.85 5.35 5.85 -
Heartland Bank - Online 4.60 ▼4.79 ▼5.15 ▼5.14
Lender Flt 1yr 2yr 3yr
Heretaunga Building Society 6.50 5.60 6.00 -
HSBC Premier 6.34 5.09 5.34 5.59
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 6.00 ▼4.79 5.15 ▼5.69
Kainga Ora 5.85 5.31 5.58 5.97
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 6.00 5.95 6.45 ▼6.59
Kiwibank - Offset 6.00 - - -
Kiwibank Special - 4.95 5.45 ▼5.69
Liberty 4.84 - - -
Lender Flt 1yr 2yr 3yr
Nelson Building Society ▲6.95 5.55 6.15 -
Pepper Money 5.29 - - -
Resimac 5.59 6.54 6.44 6.98
SBS Bank 6.29 ▼5.39 ▼5.79 5.99
SBS Bank Special - ▼4.89 ▼5.29 5.49
Select Home Loans 6.89 - - -
TSB Bank 7.05 5.65 6.09 6.39
TSB Special 6.25 4.85 5.29 5.59
Unity 5.65 4.95 5.55 -
Wairarapa Building Society 6.49 5.55 6.15 -
Westforce credit union - Special - 5.35 5.85 -
Lender Flt 1yr 2yr 3yr
Westforce credit union - Standard 5.85 6.05 6.55 -
Westpac 6.39 5.55 6.05 6.29
Westpac - Offset 6.39 - - -
Westpac Special - 4.95 5.45 5.69
Median 6.34 5.33 5.79 5.83

Last updated: 15 August 2022 8:19am

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