Opinion

Serious advice: FMA cancellation signals cultural change ahead

David Chaplin
Wed, 15 Dec 2021

Serious advice: FMA cancellation signals cultural change ahead

James Greig, FMA director supervision. (Image: supplied)

David Chaplin
Wed, 15 Dec 2021

Despite a long association with the Australasian financial services industry, I’ve only known a couple of people charged with serious criminal offences.Both of them ended in suicide – alleged in the case of Sydney fake financial adviser Melissa Caddick, who vanished a year ago after defrauding friends and family of over A$20 million (NZ$21.07m). The only clue to her death was a foot washed ashore in a sneaker.As discussed in a previous column, I may, or may not, have been responsible for splashing Caddick on the front page of an Aus...

Unlock all stories
free for 10 days

Trustworthy, balanced journalism every day from our growing team of New Zealand business reporters and commentators, plus more in our weekend magazine section, The Life.

Instant News Alerts based on keywords you choose or journalists you follow
Our Daily Digest of all stories at 6am, midday or 6pm
Comprehensive business and markets coverage
News via email, web and Apple/Android apps

Try for 10 days without paying and if you’re not convinced cancel with just two clicks.

Find out more

Subscribe now

Name

E-Mail Address

Password

Confirm Password

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Cardholder's Name

Card

You will be charged in 10 days unless you cancel beforehand. We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service {{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Or Subscribe with Google

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Markets market close

F&P Healthcare drags NZX 50 lower

Dan Brunskill | Wed, 25 May 2022

Markets were also surprised by RBNZ's plans to keep hiking the official cash rate until it hit 4%.

Property

Homeowners to feel pain next year when home rates hit 6%

Brent Melville | Wed, 25 May 2022

There's no need for leveraged homeowners to panic as interest rates ratchet up, but stress could start being felt downstream as more rate hikes seem on the cards.

Economy

Reserve Bank will hike but not as much as it says

Rebecca Howard | Wed, 25 May 2022

The Reserve Bank of NZ now expects the official cash rate to peak at 3.9% in June 2023, up from its February view that it would peak at 3.4% in September 2024.

Partner content

Small business lessons for attracting and retaining staff

Employers battling through the ‘Great Resignation’ are now faced with the ‘Great Brain Drain’.

Partner content

People leaders are key to wellbeing but still need help

One in three people say they have experienced an issue with an unsupportive manager

Serious advice: FMA cancellation signals cultural change ahead

Subscribe now

Or Subscribe with Google

Not convinced yet?

Your company has a subscription

Team