Having a say on draft banking report

The hybrid conference, meaning people can attend in person or online, will be to consider comments on the draft report.

Major backlash to the report has already come from many mortgage advisers, upset at commission chairman John Small’s comments that mortgage brokers are at risk of being “unduly influenced” by commissions they get from banks for placing mortgages.

Small has already met with the newly established Finance & Mortgage Advisers Association NZ, which aired its views on the industry and its place as a responsible financial platform.

The commission says the conference will help test its preliminary findings and draft recommendations with industry participants and interested parties, including members of the public, and to clarify and test submissions received on the report.