NZX 50 dips as Korean chip selloff ripples across Asia

Warehouse hits new low.

New Zealand’s S&P/NZX 50 index joined a wave of weaker markets across Asia as South Korea’s Kospi slumped on the news that Meta Platforms is eyeing a move into cloud infrastructure and that Apple is in talks to buy chips from two Chinese semiconductor firms.

Infrastructure investor Infratil, which has followed the AI trade due to its CDC data centres business, was among the larger ...MORE»

Why 12% Could Be the Most Important Number in KiwiSaver Thursday, July 2nd, 6:36AM  1 comment For years, New Zealand's retirement savings debate has revolved around broad concepts: adequacy, participation, and sustainability. The latest KiwiSaver discussion is more tangible. It centres on a single number. MORE»

Ethical investing needs to grapple with AI challenges: Pathfinder Wednesday, July 1st, 6:00AM Pathfinder chief executive John Berry says demand for ethical investing continues to grow, even as developments in technology throw up new challenges. MORE»

Mortgage fraud and advisers’ commissions under the FMA microscope

The Financial Markets Authority (FMA) is going after advisers and FAPs who flout its rules and pose significant risks for borrowers.

Picture: FMA Chief Executive Samantha Barrass (Supplied)

The FMA has identified four themes it will prioritise over the next year across the sectors it regulates. 

These include managing conflicts from renumeration structures; banks’ and non-bank deposit takers’ design of new and redesigned existing products; the use of complaints to drive improvement; and fraud detection and prevention, ...MORE»

FMA focussed on fraud and commissions paid to advisers Tuesday, June 30th, 6:24AM The Financial Markets Authority highlights fraud and commissions as key areas of attention over the next 12 months. MORE»

Simon Papa: Access to advice - Is adviser conservatism the issue? Saturday, June 27th, 4:10PM  2 comments OPINION: The FMA’s access to advice report attributes advice access issues to adviser conservatism but the absence of structured market or economic analysis means it may misdiagnose what is in fact a demand-side problem. MORE»

News Bites

Summit to examine financial advice policy, regulation, and professional standards

Financial Advice New Zealand is launching an Advice Policy Summit in conjunction with the Financial Planning Standards Board Asia Pacific Forum. MORE»

GoodReturns TV

Fisher Funds moves to woo advisers back

After years of neglecting the adviser market, the investment manager is going on the charm offensive.   MORE»

Harbour rolls out new global multi-manager fund

Harbour launches a new global equities fund to address concerns about over-exposure to the United States. MORE»

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FMA focussed on fraud and commissions paid to advisers

The Financial Markets Authority highlights fraud and commissions as key areas of attention over the next 12 months. MORE»

TMM Online

Single set of expectations from new CCCFA regulator

The FMA has taken over from the Commerce Commission as regulator of the Credit Contracts and Consumer Finance Act (CCCFA). MORE»

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Fisher Funds appoints new Chief Client Officer

Fisher Funds has appointed a new Chief Client Officer to lead its growing client teams across New Zealand. MORE»

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Give Total Rem the flick if KiwiSaver compulsory

KiwiSaver providers want more clarity on how total remuneration packages will be treated with any move towards compulsion. MORE»