Celebrities are likely to shy away from finance companies thanks to our new regulatory package

June 3, 2011

It has been one of Alf’s big disappointments that nobody has asked him to endorse their product in TV and other advertising.

He has especially yearned to promote his favourite whisky (he would happily name it publicly here, if its makers would pay him).

But he would never endorse a bank or a finance company, essentially because he regards bankers and financiers as the business world’s equivalent of cockroaches.

He keeps his money secured under his mattress. It’s not a huge fortune, but it is a tad lumpy because coins account for part of it, and so it is stored beneath the mattress on Mrs Grumble’s side of the bed.

Because of his attitude to bankers and financiers, Alf was disappointed when folks like Richard Long and Colin Meads helped persuade ordinary Kiwis to invest in this finance company and that.

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Simon Power sets his sights on celebrities, but fools who want to part with their cash won’t be deterred

March 18, 2011

Follow me, folks - the grass is nice and plush over here.

Oh dear. It looks like a nice little earner for a few celebrities is about to become a tad risky for the buggers.

Those of them who lend their names to advertising campaigns to promote investment products might face stiff penalties under new laws if they are found to have misled mum and dad investors.

The Herald says Commerce Minister Simon Power yesterday announced a raft of Cabinet decisions on his major rewrite of investment laws, a response to the collapse of the finance company sector and the global financial crisis.

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