News Round Up

Update on introduction of new disclosure laws, Lombard sells insurance online, Fisher's five-fold fund increase and House prices keep rising.

Monday, June 11th 2007, 6:42AM

Regulations under the Securities Markets Act are currently being drafted and are planned to come into effect in the second half of the year.

The regulations will bring the new provisions of the Securities Markets Act (passed as part of the Securities Legislation Bill last year) into force. The regulations will come into force in a phased approach, with those provisions relating to disclosure being promulgated but not coming into effect for two to three months to allow for education and transition, the Ministry of Economic Development says.

The regulations developed through ongoing consultation will enhance securities markets through greater transparency and efficiency by: easing compliance, and clarifying the obligations of investment advisers amongst other things.

Lombard sells insurance online
Lombard Group has launched an online insurance and mortgage facilitation business, Maestro Commerce.

The website delivers the convenience and transparency of being able to compare and apply for a wide range of insurance cover and home loans.

Among the providers on board are Tower, Asteron, Fidelity Life and ASB Bank, while agency agreements with a number of other significant companies are in the final stages of negotiation.

Fisher's five-fold fund increase
Fisher Funds, as recently reported by Good Returns is currently pushing its Australian share managed fund. Fisher says its investment in ASX-listed Australian growth companies five-fold. [READ ON]

Residential Market up 11.1%
QV’s May statistics report growth in residential property values increased 11.1% in the 12 months to the end of May. The growth rate increased from 10.6% reported in April with the average New Zealand sale price increasing from $366,032 to $372,552 reported this month. Full details and commentary on what's happening in the main urban areas can be found at www.landlords.co.nz

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