Telcos censured over fair trading breaches
By Dan Brunskill | Thu, 13 Feb 2020
The Commerce Commission today censured two of the country's largest telecommunication companies over the way they’ve previously charged customers. The more serious of the two saw brands owned by AS...
UPDATED: Hackers steal photo ID of 10,000 Generate KiwiSaver customers
By Pattrick Smellie | Thu, 13 Feb 2020
Hackers stole photographic ID for some 10,000 of the 26,000 Generate KiwiSaver customers affected by a raid on the most sensitive part of its website over the Christmas/New Year period.The company cla...
National seeks audit of NZ First ministers' PGF decisions
By Pattrick Smellie | Wed, 12 Feb 2020
All ministerial decisions made by New Zealand First party Cabinet members need to be audited in light of the ongoing drip-feed of information about who and how the party was handling donations through...
Suncorp NZ faces $8m remediation over discount issues
By Paul McBeth | Tue, 11 Feb 2020
Suncorp Group’s New Zealand division has set aside $8 million to cover remediation costs for its general insurance unit at a time when insurers prepare for closer regulatory scrutiny.The Brisbane-base...
Conduct review triggers RBNZ whistleblower service
By Victoria Young | Tue, 11 Feb 2020
The Reserve Bank of New Zealand is formalising its procedures with a phone line and dedicated email inbox for whistleblowers. The move comes as the regulator beefs up its prudential function and...
Westpac to pay customers $3.7m after credit contracts breach
By Jenny Ruth | Tue, 11 Feb 2020
Westpac will pay customers $3.7 million in reparations.after agreeing with the Commerce Commission that it breached credit contracts disclosure law.The corporate regulator said Westpac breached the Cr...
NZ First Foundation complaint passed on to SFO
By Paul McBeth | Mon, 10 Feb 2020
An already-stretched Serious Fraud Office will have to decide whether New Zealand First breached electoral law with its use of an external foundation to solicit funds. The Electoral Commission tod...
Directors' fee setting needs reform: NZSA
By Jenny Ruth | Mon, 10 Feb 2020
The way directors' fees are set needs to be reformed to overcome "the obvious conflicts of interest" of directors deciding how much to pay themselves, according to New Zealand Shareholders' Associatio...
Law firm defends $11.6m negligence suit after landmark leaky building case
By Victoria Young | Fri, 07 Feb 2020
A specialist leaky-building law firm has been sued for negligence for almost $12 million by the owners of the Spencer on Bryon tower on Auckland’s North Shore. Grimshaw & Co had acted for the body...