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Rapid Ratings returns

Wednesday 23rd of August 2006

Earlier this year Australian-based Rapid Ratings decided to pull out of the New Zealand market bemoaning the lack of demand for its services.

However, after three finance company collapses demand has been created and the service is being resumed.

However this time the service is being provided under licence by Ron Keene’s firm Risk Analysis Ltd.

Keene, who was the director corporate ratings for Rapid Ratings in New Zealand, has entered into an agreement where his firm has a licence to use the Rapid Ratings process in New Zealand.

He says Rapid Ratings has decided to stick to providing research on listed companies in Australia, the United States and the United Kingdom, but it was prepared to licence its process to Keene.

Earlier Rapid Ratings had complained there was a lack of a “research culture” in New Zealand and finance companies weren’t prepared to be rated.

Now there is “renewed interest from finance companies themselves and also from financial planners and investment advisers who are seeing a little more starkly the responsibility they have for having access to quality research.”

The relaunch of the services comes at an opportune time for some finance companies as their ratings from the firm are getting close to expiring.

Earlier story

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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.
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FMA outlines its latest expectations for advisers
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