HSBC to exit wealth market in New Zealand
Following the agreed sale of its Canadian operation
New Zealand
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New Zealand scraps proposed tax on fund management services
After it caused a ‘significant media backlash’
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Net profit drops 25% at AMP
Bank is ‘entering its next era as a significantly simplified group’
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New Zealand advice firms merge
Combined company will have NZ$1bn in funds under management
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FNZ acquires New Zealand online investment platform
It will ‘invest heavily’ in the acquired business
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New Zealand changes financial advice licensing rules
As part of the regulatory shake-up, three adviser types have been removed from the sector
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NAB sells its New Zealand life insurance business
As part of the deal, the bank enters into a 10-year agreement to refer its customers to the company
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Westpac to sell New Zealand wealth advisory business
But bank says it will still serve customers with large investment portfolios for their lending needs
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Covid-19 scuppers sale of AMP wealth arm in New Zealand
M&A plans taken off the table as it looks to implement growth strategy
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Financial adviser pleads guilty to multi-million fraud
‘Many victims lost their retirement savings and are not in a position to recover financially’
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UK insurer not taking no for an answer on scuppered AMP deal
Resolution Life pursues completion of ‘excellent opportunity’ despite regulatory troubles
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New Zealand fraud squad searches offices of financial adviser
Country’s regulator said it is ‘working to secure and preserve client funds’