Finance
Explore the latest finance news by Business Desk.
ASB sells Aegis investment administrator to MMC
ASB Bank says it has sold its investment administration and custody business Aegis to MMC, a specialist outsourcing and investment administration business based in Auckland, for an undisclosed sum. The Commonwealth Bank of Australia-owned bank had said in May that it was consi...
Policy
Directors urged to improve understanding of climate change
Company directors are not as aware of climate change challenges as they should be and risk leaving their firms insufficient time to respond, says Karen Silk, deputy chair of the Sustainable Business Council. While some firms are taking strong positions, many others are reactin...
Law & Regulation
OPINION: Memo to Oz-owned banks: resistance on IRB models is futile
The big four Australian-owned banks ought to have realised in February that it was futile to resist the Reserve Bank's intention to severely restrict the competitive advantage they gain from using their own internal models to calculate capital. Perhaps they thought the subject...
Law & Regulation
FMA cage-rattling sees Westpac pledge to cut KiwiSaver fees
The Financial Markets Authority is broadening its focus to consider whether KiwiSaver investors are getting value for money but it still believes the cost of managing that money should be cheaper. In its annual KiwiSaver report, the market watchdog reiterated concerns that ma...
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