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DR - Finance companies

Guilty plea but no prison for former Nathans Finance director

Friday 4th of March 2011

The sentence came after Hotchin pleaded guilty to three charges laid by the Securities Commission under Section 58 of the Securities Act 1978.

The charges relate to statements made by Nathan in its registered prospectus and investment statement dated December 13, 2006.

The Commission alleged the statements concerning Nathans' lending to related parties, the quality of its loan boo...

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Latest Comments

Fidelity Life sold to Partners

Good leaders are a rare commodity these days. Milton built a great business but when he left, a succession of bankers took over who we know are ignorant about insurance. We saw AMP buy AXA with bankers running AMP. What resulted was two 100 year old businesses being destroyed have bankers at the helm. We can hope that the boards of the few remaining insurers note that appointing a person with a banking background to the leadership role is a destructive appointment.

2 days ago Quality Advice

Fidelity Life sold to Partners

A shame to see Fidelity Life ceasing to be NZ owned, and for there to be no NZ owned Insurers left. It's sad to see what has happened to the company since Milton Jennings was in charge. You get the feeling if more of his type of leadership was continued that Fidelity might have continued to grow rather than the slow decline that has happened since Milton's tenure.

2 days ago Just an opinion

Who is responsible for notifying policy changes?

Of course it is the responsibility of the insurer to clearly communicate with its Policy holders, and Advisers together, regarding all changes on a Policy. There is at least one insurer that feels that a simple email to the Advisor on every Anniversary renewal is a bit too much for them! The Advisor has to be pro-active and chase renewal communications every year through the Insurer's website. Where is the responsibility of the insurer there?

3 days ago Porus Kateli

Fidelity Life sold to Partners

Can the New Zealand Life Insurance afford further shrinkage? With AIA performing so poorly options to insure will fall to just Partners, Asteron ( Acenda) and Chubb for mainstream Life Insurers. Of course there is PSP but they have a very small, targeted client group.

3 days ago Quality Advice

AIA moves into wealth with annuity launch planned

This is great news indeed, well done AIA. I hope you were able to solve the tax treatment which plagued this cornerstone product.

4 days ago Goldcard

Good Returns was established in 1997 and was one of the first successful online publishers in New Zealand and continues to be a publishing leader. Good Returns is held in high-regard by its target audience, the financial services industry. A team of highly experienced business journalists update the site daily with topical, breaking and relevant news and views. The team is led by founder and publisher Philip Macalister.