Tick of approval for Commission's investor website

International ratings agency Standard & Poor's has given a tick to the Securities Commission's new website aimed at improving the country's financial literacy.

The commission's website includes details about credit ratings, and information to help investors understand the risks and rewards of investing.

Ten finance companies have collapsed in the past 18 months, including seven this year as a result of a global credit crunch, owing investors more than $1 billion.

The Government is proposing improved regulations for finance companies, including the requirement to have a Reserve Bank-approved credit rating.

- NZPA