Latest news with #MarkPeterson
Scoop
15-05-2025
- Business
- Scoop
NZX Welcomes Changes To Prospective Financial Information
Press Release – NZX The changes to regulations Financial Markets Conduct Amendment Regulations 2025 have been published on the Parliamentary Counsel Office website. They come into force on 12 June 2025. New Zealand's public market operator NZX today welcomed news that prospective financial information for initial public offers in disclosure documents is to be made optional. The changes to regulations – Financial Markets Conduct Amendment Regulations 2025 – have been published on the Parliamentary Counsel Office website. They come into force on 12 June 2025. 'One of the most difficult and expensive requirements for a company when listing on the NZX, is mandatory prospective financial information or PFI,' NZX Chief Executive Mark Peterson says. 'NZX understands the cost of providing PFI ranges from around $150,000 to $500,000 and is a major factor that causes New Zealand advisers to recommend companies list elsewhere where PFI isn't mandatory. 'NZX and other New Zealand market participants have been engaging the Government on ways to improve the efficiency and effectiveness of New Zealand's capital markets. Creating flexibility on how the future performance of a business can be portrayed in disclosure documents, is one of the initiatives we have been seeking. 'NZX applauds Commerce Minister Scott Simpson and the Government for making this requirement optional as it will provide investors more choice of investable product and enable better access to capital for New Zealand businesses. The change removes unnecessary red tape and will assist in New Zealand's capital markets being more competitive with international peers.' Mr Peterson says NZX, and representatives of New Zealand's capital markets sector, continue to engage with the Government on removing further regulatory roadblocks that are hindering investment and access to capital for New Zealand companies and projects. This includes changes to director-liability settings, right-sizing mandatory climate-related disclosures, specific changes to disclosure documents, and NZX exploring possible tax reforms that would encourage greater investment. 'As a package, these reforms will materially improve the viability for companies wanting to meet their growth aspirations via the listed market,' Mr Peterson says. Mr Peterson acknowledged the positive leadership former Commerce Minister Andrew Bayly had played in leading the capital market reforms. The Government's PFI announcement and the acknowledgment of further reform underway, align with initiatives recommended in the Growing New Zealand's Capital Markets 2029 report released in 2019. That review had 42 recommendations from 210 New Zealand industry participants covering KiwiSaver, regulation, public sector assets and infrastructure, promotion of public markets, tax, new products, and technology. All were designed to improve the efficiency and effectiveness of New Zealand's capital markets.
RNZ News
15-05-2025
- Business
- RNZ News
NZX boss says market regulations changes will attract more local businesses
NZX chief executive Mark Peterson. Photo: RNZ / Dom Thomas Changes to market regulations making prospective financial information (PFI) optional will make the New Zealand stock exchange a much more attractive option for local businesses, says its head. The changes to the Financial Markets Conduct Amendment Regulations 2025 would mean companies trying to raise capital by listing on the NZX would no longer need to come up with up several hundred thousands of dollars to do so. NZX chief executive Mark Peterson said it meant that mandatory PFI was "one of the most difficult and expensive requirements" for a company listing, and drove some companies away from the NZX to offshore exchanges. "NZX understands the cost of providing PFI ranges from around $150,000 to $500,000 and is a major factor that causes New Zealand advisers to recommend companies list elsewhere where PFI isn't mandatory." Peterson said the move by Commerce Minister Scott Simpson and the government would "provide investors more choice of investable product and enable better access to capital for New Zealand businesses. The change removes unnecessary red tape and will assist in New Zealand's capital markets being more competitive with international peers." He also said "the positive leadership" of former Commerce Minister Andrew Bayly had played a role in leading the capital market reforms. The changes come into force on 12 June. Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
Scoop
15-05-2025
- Business
- Scoop
NZX Welcomes Changes To Prospective Financial Information
New Zealand's public market operator NZX today welcomed news that prospective financial information for initial public offers in disclosure documents is to be made optional. The changes to regulations – Financial Markets Conduct Amendment Regulations 2025 – have been published on the Parliamentary Counsel Office website. They come into force on 12 June 2025. 'One of the most difficult and expensive requirements for a company when listing on the NZX, is mandatory prospective financial information or PFI,' NZX Chief Executive Mark Peterson says. 'NZX understands the cost of providing PFI ranges from around $150,000 to $500,000 and is a major factor that causes New Zealand advisers to recommend companies list elsewhere where PFI isn't mandatory. 'NZX and other New Zealand market participants have been engaging the Government on ways to improve the efficiency and effectiveness of New Zealand's capital markets. Creating flexibility on how the future performance of a business can be portrayed in disclosure documents, is one of the initiatives we have been seeking. 'NZX applauds Commerce Minister Scott Simpson and the Government for making this requirement optional as it will provide investors more choice of investable product and enable better access to capital for New Zealand businesses. The change removes unnecessary red tape and will assist in New Zealand's capital markets being more competitive with international peers.' Mr Peterson says NZX, and representatives of New Zealand's capital markets sector, continue to engage with the Government on removing further regulatory roadblocks that are hindering investment and access to capital for New Zealand companies and projects. This includes changes to director-liability settings, right-sizing mandatory climate-related disclosures, specific changes to disclosure documents, and NZX exploring possible tax reforms that would encourage greater investment. 'As a package, these reforms will materially improve the viability for companies wanting to meet their growth aspirations via the listed market,' Mr Peterson says. Mr Peterson acknowledged the positive leadership former Commerce Minister Andrew Bayly had played in leading the capital market reforms. The Government's PFI announcement and the acknowledgment of further reform underway, align with initiatives recommended in the Growing New Zealand's Capital Markets 2029 report released in 2019. That review had 42 recommendations from 210 New Zealand industry participants covering KiwiSaver, regulation, public sector assets and infrastructure, promotion of public markets, tax, new products, and technology. All were designed to improve the efficiency and effectiveness of New Zealand's capital markets.
Yahoo
12-05-2025
- Business
- Yahoo
AuguStar Life launches most competitive income IUL product to date
At launch, Virtus IUL III is a top tier IUL product for income CINCINNATI , May 12, 2025 /PRNewswire/ -- AuguStar® Life, a Constellation company, is proud to announce the launch of Virtus IUL III, one of the life insurance industry's top indexed universal life products. Designed to provide clients with a blend of accumulation potential, superior income distribution and protection features, it is an ideal solution for both personal and business financial planning needs. "Our strategy has been to elevate our indexed product line to be among the best in the business," said Mark Peterson, AuguStar Life Chief Distribution Officer. "Additionally, financial professionals are looking for products with greater income and accumulation potential features that don't sacrifice the protection benefits, and this product delivers in a big way." In addition to its income and accumulation potential features, Virtus IUL III offers a variety of protection options, including level and increasing death benefit choices, a No Lapse Guarantee and optional riders such as the Accelerated Benefit Rider for chronic and terminal illness. These features ensure that clients can tailor their policies to meet their unique financial goals and provide peace of mind for their loved ones. In a comparison of expenses as a percentage of premium, Virtus IUL III is designed to offer competitive expense levels relative to similar products, making it a cost-effective choice for clients seeking to maximize their policy's cash value and income potential. "We are excited to introduce Virtus IUL III to the market," continues Peterson. "This product represents our commitment to opening up a universe of possibilities for our clients by offering them innovative and flexible solutions to navigate their financial journeys." More information about AuguStar Life's IUL offerings can be found on the AuguStar website. About AuguStar Life AuguStar Life markets indexed universal life, indexed whole life, term and bank-owned life insurance through a national network of traditional direct agent distribution and independent marketing organizations. AuguStar Life is a member of the Constellation family of companies, which also includes AuguStar Retirement, AuguStar Seguros, Constellation Investments, Constellation Re and Constellation Institutional Markets. Constellation's investors and equal partners, CDPQ and Ontario Teachers', are two of North America's largest long-term institutional investors, managing more than CA$740 billion in net assets, including more than CA$150 billion in private capital investments (as of Dec. 31, 2024). More information is available at Minimum premiums must be met for the guaranteed death benefit to remain in place. Withdrawals may reduce the death benefit, cash surrender value and any living benefit amount. Indexed universal life insurance is issued by AuguStar Life Assurance Corporation. Guarantees based on the claims-paying ability of the issuer. Guarantees do not apply to the investment performance of any chosen index. Product, product features and rider availability vary by state. Issuer not licensed to conduct business in NY. Contact: Lisa Doxsee513.794.6418 (o) | 513.218.5519 (m)mediarelations@ View original content to download multimedia: SOURCE AuguStar Life Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CBS News
09-05-2025
- Sport
- CBS News
Truist Championship volunteer's journey to the fairway started as a caddie
As Truist Championship Week continues at the historic Philadelphia Cricket Club, thousands of fans have turned out to watch some of the world's best golfers compete. But for many, the journey to the fairway starts not with a swing, but with a towel and a set of gold clubs. That's how 22-year-old Yoan Zozikov got his start. "You have to wet the towel first when you prepare to caddie," Yoan explains as he carefully cleans a golf club—something he's been doing since he was 16. Now in his final days at Rolling Green Golf Club in Springfield, Yoan reflects on how far caddying has taken him. "I was able to buy a new car, and it's also gotten me through college," he said. For Yoan and many like him, caddying isn't just a summer job — it's a stepping stone. "As a graduating college student, I tend to ask golfers about their path to success, how they became a member at a prestigious course like this," he shares. Yoan is one of dozens of recipients of the J. Wood Platt Scholarship, a program supporting caddies pursuing higher education. This year, 20 of those scholars are volunteering during the Truist Championship—not carrying bags, but still part of the action. "We have a motto: caddie, college, career," says Mark Peterson, Executive Director of the Golf Association of Philadelphia and the J. Wood Platt Caddie Scholar Program. "They come in, they caddie, they go to college—and they have a chance to build a future." Yoan hopes to continue caddying part-time as he starts his new career as an insurance broker, a path he's confident will keep him close to the game. "They say a lot of people in insurance play a lot of golf," he jokes. And just for fun, we looked into the highest-paid caddie in 2024. That title goes to Ted Scott, who caddies for World No. 1 Scottie Scheffler. Scott's estimated earnings last year? A whopping $5.34 million.
