Securities Commission takes a swipe at Huljich in KiwiSaver guidelines

The Securities Commission has taken a veiled swipe at Huljich Wealth Management in its guidelines for distribution and disclosure released yesterday. The market regulator wagged its finger over the signing up of KiwiSaver members through door-to-door sales, something that got Huljich in trouble last year, and also stressed the need for disclosure statements to indicate […]

KiwiSaver provider wants better disclosure

Default KiwiSaver provider Mercer is says there needs to be an improvement in disclosure requirements with KiwiSaver. Head of Mercer New Zealand Martin Lewington says the requirement thresholds default schemes have should be across the industry. He believes what happened with Huljich Wealth Management and its KiwiSaver funds was inevitable and that it has bought […]

Same regime needed for all KiwiSaver trustees

Trustees respond to teh government’s comments over their role in supervising KiwiSaver schemes. “It’s important that trustees are fit for purpose, professional and independent”, Trustee Corporations Association chairman Clynton Hardy says. “The bottom line is that close to $5 billion, and rising, is invested in KiwiSaver schemes. “A KiwiSaver trustee’s job is no different from […]

KiwiSaver regulations fast tracked

Concerns over KiwiSaver fund management have led to the government fast tracking work to ensure the integrity of KiwiSaver is maintained for the 1.3 million people and $4.88 billion of their money invested in the scheme. Minister of Commerce Simon Power says in recent weeks there has been growing concern regarding the regulation of KiwiSaver […]