Banking
FMA's Rob Everett says review of bank conduct & culture shows plenty that could be done better but so far no evidence of systemic misconduct
30th May 18, 2:00pm
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FMA's Rob Everett says review of bank conduct & culture shows plenty that could be done better but so far no evidence of systemic misconduct
NZ life insurance market consolidates as ANZ agrees to sell OnePath Life to Cigna for $700 million; Sale to see Cigna become NZ's third largest life insurer
30th May 18, 11:53am
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NZ life insurance market consolidates as ANZ agrees to sell OnePath Life to Cigna for $700 million; Sale to see Cigna become NZ's third largest life insurer
Reserve Bank says financial risks have lessened but will not be loosening LVR restrictions at this stage; will wait till November 'at least' before any loosening
30th May 18, 9:15am
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Reserve Bank says financial risks have lessened but will not be loosening LVR restrictions at this stage; will wait till November 'at least' before any loosening
Ministers Robertson & Faafoi say they will meet with the RBNZ & FMA regularly as their work programme on financial services sector conduct and operations develops
30th May 18, 7:47am
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Ministers Robertson & Faafoi say they will meet with the RBNZ & FMA regularly as their work programme on financial services sector conduct and operations develops
Economists doubt the Reserve Bank will want to further roll back mortgage lending restrictions this week and will prefer to wait longer to see how the housing market develops this year
28th May 18, 1:49pm
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Economists doubt the Reserve Bank will want to further roll back mortgage lending restrictions this week and will prefer to wait longer to see how the housing market develops this year
Bank lobby group quickly backs away from idea it floated earlier this month of establishing a bad conduct register for naughty financial services workers
24th May 18, 10:52am
Bank lobby group quickly backs away from idea it floated earlier this month of establishing a bad conduct register for naughty financial services workers
Westpac's David McLean says flat house prices for 20-30 years would gradually correct housing unaffordability without igniting the 'economic carnage' a big price drop would cause
23rd May 18, 1:57pm
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Westpac's David McLean says flat house prices for 20-30 years would gradually correct housing unaffordability without igniting the 'economic carnage' a big price drop would cause
Michael Wood, the Chairman of Parliament's Finance and Expenditure Select Committee, says summoning bank CEOs to appear before MPs is an ‘open and live option’
15th May 18, 1:05pm
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Michael Wood, the Chairman of Parliament's Finance and Expenditure Select Committee, says summoning bank CEOs to appear before MPs is an ‘open and live option’
FMA and RBNZ's response to revelations from Australian financial services Royal Commission appear 'rather desperate' and 'driven by being seen to be doing something'
11th May 18, 1:47pm
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FMA and RBNZ's response to revelations from Australian financial services Royal Commission appear 'rather desperate' and 'driven by being seen to be doing something'
Schemes that deal with complaints people make about their financial service providers urge the Government not to go too far in making them report all the misconduct they see to regulators
11th May 18, 5:00am
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Schemes that deal with complaints people make about their financial service providers urge the Government not to go too far in making them report all the misconduct they see to regulators
Questions raised over NZ's financial services consumer dispute resolution model with the four competing schemes incentivised to sell themselves to the industry
9th May 18, 4:03pm
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Questions raised over NZ's financial services consumer dispute resolution model with the four competing schemes incentivised to sell themselves to the industry
Commerce Commission probes problems with ANZ loan calculator that undercharged interest to about 100,000 customers
9th May 18, 12:39pm
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Commerce Commission probes problems with ANZ loan calculator that undercharged interest to about 100,000 customers
Westpac NZ CEO David McLean says Aussie Royal Commission chance for NZ to get a free ride, defends vertically integrated banking model, sees increased mortgage market competition
8th May 18, 12:02pm
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Westpac NZ CEO David McLean says Aussie Royal Commission chance for NZ to get a free ride, defends vertically integrated banking model, sees increased mortgage market competition
FMA & RBNZ tell banks the window for them to show consumers & regulators they can have full confidence in the NZ financial services industry is narrow with proactive leadership required
4th May 18, 2:33pm
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FMA & RBNZ tell banks the window for them to show consumers & regulators they can have full confidence in the NZ financial services industry is narrow with proactive leadership required
Patrick Watson says free markets don't work well unless certain people lose - otherwise the entire system fails and everyone loses; which is happening right now
4th May 18, 9:27am
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Patrick Watson says free markets don't work well unless certain people lose - otherwise the entire system fails and everyone loses; which is happening right now
Banks' attempts to be more customer-centric by changing the way they incentivise staff slammed by union for being superficial; FMA optimistic about impact of financial advice and insurance contracts law changes
3rd May 18, 2:10pm
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Banks' attempts to be more customer-centric by changing the way they incentivise staff slammed by union for being superficial; FMA optimistic about impact of financial advice and insurance contracts law changes
Gareth Vaughan probes the FMA & RBNZ's demand for NZ banks to prove they're better behaved than their Aussie parents & concludes the argument for a Royal Commission doesn't stake up at this point
3rd May 18, 10:01am
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Gareth Vaughan probes the FMA & RBNZ's demand for NZ banks to prove they're better behaved than their Aussie parents & concludes the argument for a Royal Commission doesn't stake up at this point
The Finance Minister says he expects NZ banks to be able to prove they’re playing by the rules, in light of systemic problems in Australia; NZBA floats idea of industry-wide whistle-blowers’ standard
2nd May 18, 4:21pm
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The Finance Minister says he expects NZ banks to be able to prove they’re playing by the rules, in light of systemic problems in Australia; NZBA floats idea of industry-wide whistle-blowers’ standard
ANZ NZ's message to its regulators in the wake of the Australian Royal Commission on Financial Services is 'come and have a look', CEO David Hisco says
2nd May 18, 8:21am
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ANZ NZ's message to its regulators in the wake of the Australian Royal Commission on Financial Services is 'come and have a look', CEO David Hisco says
FMA's CEO Rob Everett & RBNZ Governor Adrian Orr tell NZ's big bank CEOs to prove their banks are different to their Aussie parents
2nd May 18, 7:39am
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FMA's CEO Rob Everett & RBNZ Governor Adrian Orr tell NZ's big bank CEOs to prove their banks are different to their Aussie parents
Moody's Investors Service says about US$15 billion a year could be saved in money transfer fees through mass adoption of cryptocurrency transactions
27th Apr 18, 12:03pm
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Moody's Investors Service says about US$15 billion a year could be saved in money transfer fees through mass adoption of cryptocurrency transactions
Government pressures Payments NZ to have open banking technology and standards ready to go by the end of the year; says more competition will see banks and card companies lower merchant fees
23rd Apr 18, 1:46pm
Government pressures Payments NZ to have open banking technology and standards ready to go by the end of the year; says more competition will see banks and card companies lower merchant fees
Despite the revelations from Australia's Financial Services Royal Commission going from bad to worse, don't expect the local offshoots of Australia's big banks to face the same scrutiny in NZ
23rd Apr 18, 10:39am
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Despite the revelations from Australia's Financial Services Royal Commission going from bad to worse, don't expect the local offshoots of Australia's big banks to face the same scrutiny in NZ
What the NZ retail payments industry is doing to facilitate open banking and reduce merchant fees to keep the Government happy and avoid regulation
18th Apr 18, 9:02am
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What the NZ retail payments industry is doing to facilitate open banking and reduce merchant fees to keep the Government happy and avoid regulation
Recently released documents show why officials had "serious concerns" about the state of HNA, as they blocked the $660 million sale of UDC to the Chinese global conglomerate
17th Apr 18, 11:28am
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Recently released documents show why officials had "serious concerns" about the state of HNA, as they blocked the $660 million sale of UDC to the Chinese global conglomerate