Financial Advice New Zealand says politicians cast the net too broadly in defining regulated financial advice and wants Commerce Minister Kris Faafoi to draw a clear line in the sand to avoid capturing straight sales.
The Reserve Bank gave the financial system a clean bill of health in its half-yearly Financial Stability Report today, but said it wanted to see subdued mortgage lending growth sustained before it further eased restrictions on Loan to Value Ratios.
The Government wants to stop insurers blocking claims because irrelevant information was not disclosed, but the changes may not come for years, reports Thomas Coughlan.
Nick Smith flagged yesterday that the Government is considering taking legal action to counter any delays forced on Auckland's Unitary Plan by the more-than-100 appeals lodged against the plan in the Environment and High Courts by residents' groups, developers and corporates.
Former Fonterra CEO Andrew Ferrier told Parliament's Commerce Select Committee on Thursday he believed last year's botulism scare ended up providing "a net benefit" to New Zealand's reputation.
New Zealand Trade and Enterprise chairman and former Fonterra CEO Andrew Ferrier shared his "unauthorised" view of the ongoing TPP free trade talks with the Commerce Select Committee on Thursday, saying he was "not confident" of seeing negotiators reach an agreement soon.
New Zealand Trade and Enterprise chief executive Peter Chrisp explained to the Commerce Select Committee on Thursday how some of the new funding received by NZTE will be used to develop ways of commercialising, or "monetising" the intellectual property concentrated within the public service.
A report for MBIE has found the Electricity Authority's NZ$15 million 'What's My Number' website and marketing campaign to encourage consumers to switch power retailers appeared not to have reduced power prices or increased competition much.
The average residential electricity bill rose 2.9% in 2013, including a 2.2% increase in distribution and transmission charges and a 3.4% increase in energy and retail charges.
United Future Leader Peter Dunne, who would be the swing vote on any proposed amendment to the Credit Contracts and Financial Services Reform Bill, has said he would oppose any move to introduce interest rate caps.