News

New Zealand 'has conflict problem' in FMA

5 October 2016

Almost half the Financial Markets Authority’s executive management team and board of directors have held roles with banks or other financial institutions such as fund managers, sparking concerns about the potential for conflicts of interest. Goodreturns.co.nz. More> 

Treasury has put New Zealand's rising household indebtedness under the microscope

5 October 2016

Treasury is expressing relative comfort with sharp rises in debt that have seen New Zealand's household indebtedness reach record levels - but says there are risks around the more recent decline in savings. And it has an Auckland-specific warning about rising debt levels of new housing entrants. Interest.co.nz. More> 

Middle New Zealand can't buy a house using their KiwiSaver account and expect to have a comfortable retirement

5 October 2016

Craig Simpson discovers middle New Zealand can't buy a house using their KiwiSaver account and expect to have a comfortable retirement. And a much higher contribution rate may also be needed. Interest.co.nz. More> 

KiwiSaver delivers $21 billion birthday gift to members

5 October 2016

KiwiSaver is celebrating its 9th birthday, so we thought it would be interesting to show how successful it has been at growing the retirement savings of New Zealanders while also highlighting what can be improved. Milford Asset Management. More>

The Fintech Future – Staying Ahead Or Running to Catch up?

5 October 2016

The Fintech Future – Staying Ahead Or Running to Catch up? New Zealand pulled ahead of the pack in FinTech through the equity crowdfunding and peer-to-peer provisions in the Financial Markets Conduct Act 2013. Chapman Tripp/Scoop.    More>

ACC's investment team delivers 10.2 per cent return in 2016

5 October 2016

Accident Compensation Corp's investment team delivered a net 10.2 percent return on assets in the 2016 financial year, outperforming its benchmark for a 21st year and helping offset the impact low-interest rates had on increasing the theoretical cost of future claims. Businessdesk.co.nz/ShareChat. More> 

Pension transfers may get cheaper

5 October 2016

A British move to scrap its “advice safeguard” for people thinking about transferring their pensions overseas would save migrants money. But one New Zealand pension transfer adviser says it would remove a safeguard that is useful to some.  Goodreturns.co.nz. More> 

Insurance policyholders sickened by 'unfair' excesses on claims

5 October 2016

One in 10 calls to the Insurance and Financial Services Ombudsman are about excesses levied by insurers on claims. And no wonder when what a policyholder thought of as one incident can result in two, three, or even 10 excesses to be paid. Stuff.co.nz. More> 

Insurer Youi fined maximum $100,000 by Insurance Council for dodgy sales tactics

5 October 2016

South African-owned insurer Youi has been fined the maximum financial penalty of $100,000 by the Insurance Council following a disciplinary process over misleading sales practices and has been warned any future misconduct will risk it being ousted as a member. NZ Herald. More> 

The "Affordability" of Unaffordable Homes

3 October 2016

BNZ:We all seem to agree. New Zealand home prices look extremely high. But if they are so grossly unaffordable then how come so many people are willing and able to buy them? More>