Conduct bill into new phase
The much-criticised Financial Markets (Conduct of Institutions) Amendment Bill, or COFI, took another leap forward in parliament yesterday, passing its second reading and going on to consideration by the Committee of the Whole House next week.
It passed with no sign of the Supplementary Order Paper (SOP) that critics have been counting on to resolve “defects” in the bill.
However, it is understood the SOP has been written and is out for consultation with selected interest groups.
The COFI bill will impose a code of conduct on institutions such banks, insurers or non-bank deposit takers. But it will also cover...MORE»
Borrowers in difficulty need to deal with it earlyTuesday, May 17th, 10:00AM
FSCL expects increasing number of mortgage complaints. MORE» |
Westpac’s results more good news for advisersTuesday, May 10th, 6:59AM
Westpac has outdone ANZ and originated a greater proportion of home loans through advisers than its bigger rival. Meanwhile, BNZ has gone nowhere with advisers. MORE» |
Asset sale helps as major bank wrestles with RBNZ criticism
Westpac reports a mixed bag of results but describes its overall performance in the first half of the year as "solid".
MORE»New mortgage lending still slim
Investors are still sitting on the sidelines of the residential housing market.
MORE»Advisers crack a major milestone
Mortgage advisers have cracked a major milestone and originated more than half of ANZ's home loans in the six months to March 31.
MORE»BNZ profit grows
BNZ lifted its first half profit 7.4% to $709 million.
MORE»ANZ grows home loan market share and profit
ANZ has increased its net profit after tax 18% on the back of increased home loan market share.
MORE»