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Minister appoints commissioner - for now

The Minister of Commerce, Simon Power, has appointed a Commissioner of Financial Advisers, but it is only an interim appointment.

Thursday, May 14th 2009, 9:59AM

by Paul McBeth

Commerce Minister Simon Power has appointed Securities Commission member Annabel Cotton as interim commissioner for financial advisers.

Cotton will hold the position for up to 12 months after she ruled herself out for the full five-year term, and will serve as commissioner while the Ministry of Economic Development continues its search. The ministry has hired a recruitment agency to look for candidates both in New Zealand and abroad. One of her first tasks will be to select and appoint code committee members.

"Ms Cotton, as a current member of the Securities Commission, has a broad understanding of the commission's role in the oversight of financial advisers," Power told an Institute of Finance Professionals New Zealand forum in Wellington. "The conduct of financial advisers is essential to increasing confidence in the market, and the Act will also make advisers who provide more complex advice subject to a Code of Professional Conduct."

As well as her seven-year membership of the Securities Commission, Cotton is a director of Genesis Power and Carmel Fisher's listed investment trusts Kingfish, Barramundi and Marlin Global investment arms.

 

 

 

Paul is a staff writer for Good Returns based in Wellington.

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Lender Flt 1yr 2yr 3yr
AIA - Back My Build 4.44 - - -
AIA - Go Home Loans 6.54 4.89 4.95 5.09
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ANZ Special - 4.95 4.95 5.09
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BNZ - Classic - 5.99 5.69 5.69
BNZ - Mortgage One 6.54 - - -
BNZ - Rapid Repay 6.54 - - -
BNZ - Std 6.44 4.89 4.95 5.09
BNZ - TotalMoney 6.54 - - -
CFML 321 Loans 4.99 - - -
CFML Home Loans 6.70 - - -
CFML Prime Loans 7.20 - - -
CFML Standard Loans 7.99 - - -
China Construction Bank 6.44 4.85 4.95 4.95
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Co-operative Bank - First Home Special - 4.85 - -
Co-operative Bank - Owner Occ 5.95 4.95 4.99 5.25
Co-operative Bank - Standard 5.95 5.45 5.49 5.75
Credit Union Auckland 7.70 - - -
First Credit Union Special - 5.29 5.19 -
First Credit Union Standard 6.94 5.79 5.49 -
Heartland Bank - Online 5.99 5.89 - -
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 7.45 5.90 5.80 -
ICBC 6.50 4.85 4.95 5.05
Kainga Ora 6.44 4.89 4.95 5.09
Lender Flt 1yr 2yr 3yr
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 6.35 5.79 5.85 5.95
Kiwibank - Offset 6.35 - - -
Kiwibank Special - 4.89 4.95 5.15
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SBS Construction lending for FHB 3.94 - - -
SBS FirstHome Combo - 4.29 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 8.64 - - -
TSB Bank 7.19 5.69 5.75 6.09
TSB Special 6.39 4.89 4.95 5.29
Unity First Home Buyer special - ▲6.20 - -
Unity Special 6.64 4.99 4.99 -
Unity Standard 6.64 5.79 5.79 -
Wairarapa Building Society 6.75 5.09 4.95 -
Westpac 6.59 5.49 5.55 5.59
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