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Fears new law will kill face to face financial advice marketing
June 25 (BusinessDesk) - Financial advisers fear the Financial Markets Conduct Bill will kill their ability to market directly to prospective customers by banning unsolicited meetings. The Institute of Finance Advisers has pleaded with the commerce select committee to change cla...
Allied Farmers wears more post-Hanover cost and delay
June 25 (BusinessDesk) - Allied Farmers has agreed to extend a $13.4 million loan to its failed finance arm for a year, and expects to write off a further $1.8 million on the value of property inherited from the collapsed Hanover Finance group. The secured loan was due for repay...
TAF vote update: outside shareholders get a voice, but not a vote
By Jonathan Underhill June 25 (BusinessDesk) - Outside investors who get a share of Fonterra Cooperative Group’s profits by owning units in its proposed shareholders’ fund will have a voice in the running of New Zealand’s biggest company, but not a vote, chairman Henry van der H...