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27 March 2014

Craig Foss | Commerce

Commerce Minister Craig Foss today announced the selection of nine KiwiSaver default providers for a seven year term starting 1 July 2014. AMP, ANZ, ASB, BNZ, Grosvenor, KiwiBank, Mercer, Fisher Funds and Westpac have been appointed. The selections follow a Request for Proposal process that began last year. The tenders were assessed by an independent panel according to a range of criteria including the provider’s organisational and investment capabilities and fee levels. ...

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26 March 2014

Craig Foss | Commerce

Commerce Minister Craig Foss today announced a revised Code of Professional Conduct for Authorised Financial Advisers, which will come into force on 1 May 2014. “The Code which has been developed in consultation with New Zealand financial advisers will continue to restore confidence in the professionalism and integrity of the industry. Improving confidence in our financial markets is part of the Government’s Business Growth Agenda,” says Mr Foss. The code sets out new standards and requirements for Authorised Financial Advisers in the following areas: ...

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19 March 2014

Amy Adams | Communications and Information Technology

Communications and Information Technology Minister Amy Adams has welcomed the introduction of a code of practice to improve the transparency of broadband product information for consumers. The code has been developed by the Telecommunications Forum (TCF) in response to a request from Ms Adams that improvements be made to make broadband offerings easier to understand and compare. “Consumers can now see the same basic set of information about competing broadband plans being offered by the main telecommunications companies,” Ms Adams says. ...

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19 March 2014

Amy Adams | Communications and Information Technology

Households can now stop getting phone books delivered, following Government approval for a new opt-out system, Communications and Information Technology Minister and Environment Minister Amy Adams has announced. Ms Adams has told Yellow, the company which puts together the phone books, it can offer households the ability to opt out of receiving a phone book from 2015. “In an increasingly digital age, it makes sense to offer people a choice about whether they still want to receive a printed phone book,” Ms Adams says. ...

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17 March 2014

Craig Foss | Consumer Affairs

Commerce Minister Craig Foss has welcomed the Commerce Select Committee report on a Bill that will crack-down on unscrupulous lenders who leave borrowers and their families in a spiral of uncontrolled debt. “Proposed changes under the Credit Contracts and Financial Services Reform Bill will help to increase confidence in the role consumer credit plays in our financial markets, which is a major component of the Government’s Business Growth Agenda,” says Mr Foss. ...

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13 March 2014

Craig Foss | Consumer Affairs

Consumer Affairs Minister Craig Foss and Pacific Island Affairs Minister, Peseta Sam Lotu-Iiga welcomed the launch of the 2014 Talanoa campaign. Talanoa encourages Pacific communities to ask for help and seek redress when they have problems with loans. “One of the main aims of the campaign is to help Pacific communities to be more proactive when lodging complaints if things go wrong when borrowing money,” says Mr Foss. ...

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12 March 2014

Craig Foss | Commerce

Commerce Minister Craig Foss and Revenue Minister Todd McClay today announced that the Financial Reporting Act, which changes financial reporting obligations for most companies, comes into effect on1 April 2014. “Now is the time for small and medium-sized companies to make sure they understand how the changes affect their financial reporting obligations,” says Mr Foss. ...

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11 March 2014

Amy Adams | Communications and Information Technology

David Cunliffe’s trickery appears to be contagious, with Labour’s Clare Curran the latest to demonstrate an on-going, casual relationship with the facts, Communications and Information Technology Minister Amy Adams says. Ms Curran today made a number of incorrect claims about the agreement by Crown Fibre Holdings and Chorus on the first tranche of amendments to the Ultra-Fast Broadband (UFB) contract between the two companies. ...

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10 March 2014

Amy Adams | Communications and Information Technology

Information and Communications Technology Minister Amy Adams has welcomed the agreement by Crown Fibre Holdings and Chorus on the first tranche of amendments to the companies’ Ultra-Fast Broadband contract. The changes agreed by Crown Fibre Holdings and Chorus are intended to close some of the funding gap that was identified in the Government-commissioned independent report by Ernst & Young Australia (EY). ...

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20 February 2014

Amy Adams | Communications and Information Technology

Communications and Information Technology Minister Amy Adams has welcomed news that Telecom will launch a new internet-delivered television and movie service. “This is one of the early signs that the market understands the new opportunities that will be available under the Ultra-Fast Broadband Initiative,” Ms Adams says. “The announcement from Telecom, which is changing its name to Spark, is an example of the sort of innovate approach I expect to see as UFB is rolled out around the country. ...

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