Archive - 2010
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July 2010
29 Jul 2010 OCR up 25 basis points
29 Jul 2010 Deputy Banking Ombudsman appointed as FSCL CEO
28 Jul 2010 Mayhew to get Code for approval Friday
28 Jul 2010 Top broker shares his business
28 Jul 2010 Wrightson Finance fails to get quorum to extend bonds
28 Jul 2010 Ballantyne running Accuro
28 Jul 2010 Dorchester debenture holders get a warning
28 Jul 2010 ISI: We have not flip flopped on policy
28 Jul 2010 Women in Super breakfast
28 Jul 2010 Lonsec research bound for New Zealand
28 Jul 2010 House prices to fall, rents to rise
27 Jul 2010 Strategic Finance liquidation not a fishing expedition, trustee says
27 Jul 2010 Butler stays on for another year
27 Jul 2010 KiwiSaver funds in the red
27 Jul 2010 KiwiSaver Performance Survey - June 2010
27 Jul 2010 Ban on commissions no longer imminent
27 Jul 2010 House prices likely to stay flat
26 Jul 2010 First cut to long term bank TDs for months
26 Jul 2010 Hawkins' Budget Loans pleads guilty to misleading investors
26 Jul 2010 News Round Up
25 Jul 2010 Economists and markets say interest rates up this week
24 Jul 2010 Greens want new standards for rental properties
23 Jul 2010 It's time for Gareth to shut up
23 Jul 2010 IRD's property focus getting sharper
23 Jul 2010 UPDATED: ISI changes anti-churning policy after meeting advisers
23 Jul 2010 IFA plans its future
22 Jul 2010 ISI policy a gas
22 Jul 2010 RTA amendments finally passed
22 Jul 2010 SFO starts new Blue Chip probe
22 Jul 2010 PAA welcomes ISI move
22 Jul 2010 Flattening yield curve
22 Jul 2010 Advisers need to learn how to price their services
21 Jul 2010 Institute of Financial Advisers Conference 2010
21 Jul 2010 Regulator aims for 95% repayment for investors in frozen ANZ/ING funds
21 Jul 2010 Treasury pans Power’s bid to fast-track super-regulator
20 Jul 2010 Fierce competition to educate advisers
19 Jul 2010 Government pays out $79 mill to guaranteed deposits
19 Jul 2010 NAB gains more time to meet regulator concerns on AXA offer
19 Jul 2010 AIG nabs Pru man to lead float of AIA business
19 Jul 2010 News Round Up
19 Jul 2010 Canterbury investment properties hard to move
18 Jul 2010 Rates Round Up
16 Jul 2010 Making property a long distance love affair
16 Jul 2010 Does weak data mean the RBNZ should stop raising interest rates?
16 Jul 2010 Little evidence for aggressive interest rate hikes
16 Jul 2010 Little evidence the RBNZ needs to aggressively raise rates
16 Jul 2010 No fairy tale ending
16 Jul 2010 ING waiting to see how LM Investment refinancing works out
15 Jul 2010 PSIS knocking on door of investment-grade credit rating
15 Jul 2010 Asset Finance turns profitable ahead of govt guarantee expiry
15 Jul 2010 ISI boss resigns
15 Jul 2010 Better boundaries sought on the draft Code
15 Jul 2010 Soft housing activity predicted for the rest of the year amid weak REINZ data
14 Jul 2010 Bublitz lashes out over Mutual Finance receivership
14 Jul 2010 Home sales sink further to second-worst June in 10 years
14 Jul 2010 Residential highlights - June 2010
14 Jul 2010 Govt came close to changing capital gains tax rules on property
14 Jul 2010 Tax rebate pared back ANZ/ING settlement target
13 Jul 2010 Two non-bank lenders exit market
13 Jul 2010 Statutory manager freezes another Hubbard investment vehicle
13 Jul 2010 Looming inflation problem or not?
13 Jul 2010 Fraud attempts at AXA
13 Jul 2010 ING's KiwiSaver status being questioned
13 Jul 2010 Property investors staying put in this buyers' market
12 Jul 2010 Code Committee wants to align review with 5-yearly MED update
12 Jul 2010 Banks adjust short TD rates
12 Jul 2010 Rates Round Up
12 Jul 2010 CFA founder appointed as GIPS Council chair
12 Jul 2010 Sovereign marcoms manager moves on
12 Jul 2010 Morningstar rerates Brook fund
12 Jul 2010 Property investors still sitting on their hands
12 Jul 2010 QV Main urban areas commentary: June 2010
09 Jul 2010 NZDMO looks for trans-Tasman harmony in inflation-indexed bonds
09 Jul 2010 The seven considerations in deciding to float or fix
09 Jul 2010 Workplace Savings NZ Breakfast
09 Jul 2010 [Weekly Wrap] Not a vintage week for ISI
09 Jul 2010 Platforms no barrier for independence
08 Jul 2010 SCF claws back $50m, appoints managers
08 Jul 2010 Workplace Savings NZ Breakfast
08 Jul 2010 Long term fixed rates slashed
08 Jul 2010 Five-year rates, one year on..
08 Jul 2010 Be wary of raising rents
07 Jul 2010 ISI ceo and others charged by Securities Commission
07 Jul 2010 Dominion and North South directors accused of misleading investors
07 Jul 2010 Macquarie targets one Devon departee
07 Jul 2010 Sellers still keen to meet the market
06 Jul 2010 RBA leaves rates unchanged
06 Jul 2010 Instant Finance triples profit on debenture exit, swipes at guarantee
06 Jul 2010 ISI says it will now consult on its new anti-churning policy
06 Jul 2010 The case for KiwiSaver insurance
06 Jul 2010 NZMBA adds Lender of the Year award
06 Jul 2010 Rate rises wrong as economy stalls: NZIER
06 Jul 2010 Three public meetings on new Code planned
05 Jul 2010 Receivers hope to get a further 5c for Lombard Finance investors
05 Jul 2010 Fixed mortgage rates jump lower
05 Jul 2010 Winter malaise sets in as Auckland house sales slump
05 Jul 2010 More major cuts
05 Jul 2010 News Round Up
05 Jul 2010 Mortgagee sales increase in Auckland and Northland
04 Jul 2010 Scrabble for six- to 12-month deposits this week
Latest News
Advisers hope AI widens market
Advisers hope AI widens market
2 min read
Koura reports another loss
Koura reports another loss
1 min read
Can AI pick the best KiwiSaver provider?
Can AI pick the best KiwiSaver provider?
4 min read
[Weekly Wrap] What we know, and don't know, about Labour's retirement policies. Plus a potential surprise
[Weekly Wrap] What we know, and don't know, about Labour's retirement policies. Plus a potential surprise
2 min read
Latest Comments
FE Investments in receivership
Fei , trustees still hold large of money not yet refund fully.
1 week ago Raymond Yang
Who is responsible for notifying policy changes?
There is no doubt the obligation is on the insurer who the contract is with. Clearly it would be prudent for an adviser to assist once given clear information by an insurer to assist with the communication but to extend this further. For an insurer to attempt to slide this onto an advisers plate is abdication. The adviser can not change the contract.
1 week ago Darryl Scott
FMA CEO on leave
At the risk of sounding like a broken record, the fundamental flaw in the legislation came about partly through the event that Murray mentions, and also through the negligence of the Select Committee in ignoring the single most cited recommendation in all the submissions (over 34% from memory) of drawing a distinction between product sales and financial advice. To add to their misdemeanour, the Committee then added a paragraph to the Bill confirming that recommendation of one product only constituted financial advice - or words to that effect. The inherent conflict of interest lies in an individual retained by a Class 4 licensee being required to adhere to a code of conduct that requires prioritisation of client interests. To expect a product sales person to subordinate their contractual obligation to their employer is unrealistic, unworkable, and unreasonable. To emphasise, I have no issue with a product provider marketing and selling their own products - but not behind the opaque veil of legislation intended to govern financial advice. If MBIE ever gets around to review FSLAA, Financial Advisers, FANZ, and all other interested stakeholders should mount a fully-funded intensive campaign to persuade our employees in Wellington to remove class 4 licensees from FSLAA, and replace their obligations within an amended CoFI Act.
2 weeks ago David Whyte
FMA CEO on leave
@Murray: The reps seemed to be acting on their personal interests rather than the interests of advisers. Conflict of interest, isn't it?
3 weeks ago w k
KiwiSaver funds shake off Middle East tension
In this recent presentation of mine https://www.knowrisk.co.nz I show that the average Balanced KiwiSaver fund has added approximately +0.43% over and above the gross average policy Benchmark's return's. However, the averge annual costs of -0.97% for Balanced funds have eroded that to be slighly below BMK after costs consistent with typical SPIVA studies. Note this cost number is for the 45 Balanced Funds used only - for all KiwiSaver Funds it is closer to -0.70% p.a. The presentation goes on to show that quite a bit of return is being left on the table by the one size fits all view of risk.
3 weeks ago P Urbani