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Simon Power

Changes allow voluntary authorisation by advisers

Wellington, Sept 22 NZPA - Insurance advisers and mortgage brokers will be able to be voluntarily authorised after Cabinet agreed on new regulations, Commerce Minister Simon Power says.

Draft code for financial advisers approved

Draft code for financial advisers approved
Wellington, Sept 21 NZPA - A draft code of professional conduct for authorised financial advisers has been approved by the Commerce Minister today. The Commissioner for Financial Advisers, David Mayhew, can now determine when the code can come into effect, Minister Simon Power said.

Extra powers in bill for new market regulator

Extra powers in bill for new market regulator
Wellington, Sept 14 NZPA - The proposed new market regulator will be able to enforce the duties of people involved in financial markets when it's in the public interest, a significant new power under a bill introduced to Parliament today.

Hubbard felt "ambushed" by report

Hubbard felt "ambushed" by report
Wellington, Aug 27 NZPA - Timaru businessman Allan Hubbard says he feels ambushed by the statutory managers of his businesses, and disappointed not to have had a chance to review a report showing a significant shortfall in one of the managed funds.

Hubbard supporters express disbelief at report

Hubbard supporters express disbelief at report
Wellington, Aug 27 NZPA - Supporters of Timaru businessman Allan Hubbard expressed disbelief today at a second report by statutory managers which predicted a slow return of capital for investors in one business and a shortfall of at least 25 percent in another.

Statutory managers confirm shortfall in Hubbard Funds

Statutory managers confirm shortfall in Hubbard Funds
Wellington, Aug 27 NZPA - About 300 investors in Hubbard Management Funds (HMF) were told by statutory managers today that the company overstated its value by at least 25 percent on March 31, reporting non-existent investments and cash balances.

Hubbard investors write to Power to end intervention

Hubbard investors write to Power to end intervention
Wellington, Aug 24 NZPA - A group of 71 investors have written to Commerce Minister Simon Power asking him to terminate the statutory management of entities associated with Timaru businessman Allan Hubbard and his wife Jean.

Investors urged to write to Power

Investors urged to write to Power
Wellington, Aug 20 NZPA - Aorangi Securities Ltd (ASL) investors are being urged to write to Commerce Minister Simon Power requesting statutory management of the company be terminated.

Feltex directors verdict brings relief and disappointment

Wellington, Aug 2 NZPA - The not guilty verdict for five Feltex directors today is being welcomed by professional groups but is a disappointment for shareholders' advocates.

Government keen on electronic voting by shareholders

Government keen on electronic voting by shareholders
Wellington, July 29 NZPA - The Government is moving to allow electronic voting by shareholders in a bid to improve shareholder participation.

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