I liked the proposals requiring all KiwiSaver schemes to report quarterly on what they have actually invested in.

The directors of collapsed Dominion Finance and North South Finance have entered not guilty pleas in the Auckland District Court to charges they misled investors.

There was 7.3pc increase in house listings last month, but a big glut of unsold real estate is still weighing heavily on the market.

"Mistakes have been made which the board and management acknowledge," Alloway told shareholders.

Hanover Finance has called in the lawyers to pursue Allied Farmers over allegedly attempting to "evade various contractual obligations to Hanover."