News

Wide brief for expert group on savings options

24 August 2010

An independent Savings Working Group announced today by the Government has a wide brief to consider how New Zealand can improve its national savings, Finance Minister Bill English says.

Financial Service Providers register to open Monday

13 August 2010

Commerce Minister Simon Power is urging people who provide financial services to register with the Financial Service Providers Register when it opens on Monday 16 August.  "The opening of the register marks the start of the transition to full implementation of the Financial Advisers Act and the Financial Service Providers Act", Mr Power said.

Fund managers back simplification plans

6 August 2010

Fund managers are backing a proposal to shorten investment disclosure for managed funds to make offer documents easier for investors to understand.

Grandfathering employer super schemes 'not credible'

4 August 2010

A Government suggestion to force the closure of employer-based defined contribution superannuation plans is a "bombshell" and "not a credible option", according to a commercial lawyer specialising in superannuation.

Is KiwiSaver a cannibal?

5 July 2010

If there was ever any doubt that KiwiSaver has been the saviour of New Zealand's retail funds management industry the latest quarterly figures from the trans-Tasman alliance of actuarial firms, Plan for Life and Eriksen & Associates, put that to rest.

KiwiSaver funds double with 1000 joining daily

1 July 2010

Investors have $5.5 billion in KiwiSaver funds, more than double the amount a year ago, with 1000 new members joining every day, according to an investment strategist.  People put about $2.85b in contributions into KiwiSaver funds in the year to March, according to actuaries and investment strategists Eriksen and Plan For Life.

Parliament passes adviser law

23 June 2010

The Financial Service Providers (Pre-Implementation Adjustments) Act - which was released less than two weeks ago containing substantial changes to the way in which advisers will be regulated - has this morning been passed into law.

Botherway to head market regulator

27 May 2010

Brook Asset Management founder Simon Botherway will chair the Establishment Board of the new integrated market regulator, the Financial Markets Authority (FMA).

Regulation not strangulation for KiwiSaver please

14 May 2010

An industry body argues the biggest risk to KiwiSaver is over-zealous regulation, rather than fund manager behaviour.

No tax on KiwiSaver first home subsidy

5 May 2010

Changes were made to the tax rules by Order in Council this week to allow the KiwiSaver first home deposit subsidy to be treated as a social assistance suspensory loan for tax purposes.