Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


FMA says 59% confidence in NZ Financial Markets: Why so low?

From the Ross Asset Management Investors Group

For Immediate Release

The Financial Markets Authority says overall 59% of New Zealanders have confidence in our financial markets, in a report released today.

We must ask why Kiwis have so little confidence in the markets to which they must entrust their life savings and retirement incomes. Surely the level of trust should be 90% or higher.

Clearly as a nation we are still shell shocked by the huge collapses that have occurred in our financial markets over recent years. The level of fraud revealed and the number of Ponzi schemes has been staggering. Further, once the financial collapses have happened the regulatory environment has been shown to be incredibly weak in recovering the money that has been stolen. Recovery rates of just a few cents in the dollar are common, leaving investors to wonder where all the stolen investor money has gone.

The FMA must explain why investor confidence is so low, and what it is doing to improve confidence in investment to a level that our economy can truly prosper again.

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Oceans: NZ Jumps Into International Shark Agreement

New Zealand has boosted the protection of sharks by signing the Memorandum of Understanding on the Conservation of Migratory Sharks. More>>

ALSO:

Insurance: EQC To Double Payout, Scrap Contents Insurance

New Zealand’s Earthquake Commission may double its payout amount, scrap contents insurance and process claims through private insurers under the government’s long-running review of funding and management of the state-run earthquake insurer. More>>

ALSO:

Gordon Campbell: On Tiwai Point (And Saying “No” In Greece)

Its hard to see how Rio Tinto’s one month delay in announcing its intentions about the Tiwai Point aluminium smelter is a good sign for (a) the jobs of the workers affected or (b) for the New Zealand taxpayer. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news