News Round Up: October 24

Deteriorating growth outlook likely to keep rates on hold; Weekly News Quiz; Harbour commentary: Waves of pessimism and optimism; FMA intent; Awards succcess for NZ advisers.

Monday, October 24th 2011, 7:00AM

Deteriorating growth outlook likely to keep rates on hold

With the outlook for both global and domestic growth deteriorating, economists expect Reserve Bank governor Alan Bollard will leave interest rates unchanged on Thursday and financial markets have even priced in the outside chance of a cut. Read the full story here.

Harbour commentary: Waves of pessimism and optimism

Markets are swinging from focusing on significant downgrades to European growth expectations and the prospect of financial contagion from European debt stress to hope that a road map for Europe will be 'published' in coming months. Full report here.

NEW! Test your news knowledge

Welcome to the weekly Good Returns quiz. How well have you kept up with the news this week? Take the quiz and find out. (It probably won't qualify for professional development credits, but it will give you fun).

Take the quiz here

FMA releases 'Statement of Intent'

The Financial Markets Authority (FMA) has released a 'Statement of Intent' document outlining its strategic priorities for its first years of operation.

Chief executive Sean Hughes said restoring investor confidence was one of the main goals and "integral to our success."

The document outlines some of the measures that have already been undertaken, such as the implementation of a financial adviser regulatory regime, what it aims to achieve in the coming years and how it will deliver on those aims.

"We want to encourage well-performing and compliant product issuers and advisers while promoting the informed participation of confident, risk-savvy investors," said Hughes.

Two NZ advisers nominated for Pinnacle Awards

Two New Zealand advisers have been shortlisted for the Financial Services Institute of Australasia's (Finsia) Pinnacle Awards.

They are Michael Milne, an investment adviser with Craigs Investment Partners in Dunedin, and Janine Starks, the co-managing director of Liontamer Investments from Christchurch.

Milne in on the short list for the "Most Outstanding Young Professional" while Starks in nominated in the "Most Outstanding Thought Leader" category.

"The Pinnacle Awards are intended to provide recognition for our sector's most exceptional professionals throughout Australasia," said Finsia chief executive Russell Thomas.

"We're delighted that two of our New Zealand members have been recognised for their achievements by their peers, and are contenders for a Pinnacle Award."

The award winners will be announced at Finsia's 125^th Anniversary Gala Dinner on October 25.

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