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Philip Macalister
Philip Macalister
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Drive by shootings in the industry

Thursday 14th of June 2007

Yesterday's story about a compliant against Instant Finance's advertising raises a couple of issues.

We headlined it as Instant Finance dodging a bullet. There is no doubt that is true, it did dodge a bullet fired at it. The question is should the bullet have been allowed to have been fired in the first place?

My answer is no. This is the equivalent of a drive by shooting. What is a little sinister about it is Instant Finance's view the bullet may have been fired by a competitor or someone with links to a competitor.

I have no idea who the compliant is and whether this is true or not.

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FMA outlines its latest expectations for advisers
Paul Flood: The danger is that the 'goalposts' (regarding what is acceptable or unacceptable adviser conduct) may be susceptible to change. Our 'Principles based' legal/regulatory environment lends itself to “prevalence-induced concept change” over time, perhaps not so much in the written laws and Code, as in the interpretation of the prescribed principles.
2 days ago Steve Wright
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Just a tip, if you use more than six, six letter words in a sentence you lose most Kiwi's. So avoid client/adviser confusion when writing your post or article if you would like it read and understood. Ironically, my last sentence was not likely read.
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To correct errors in my previous post: "policies, templates, and controls" should read "policies, processes, systems and controls", and "is more conductive" should read "is more conducive".
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