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Some KiwiSaver providers are worried about government plans to tighten the regulations for the scheme.
On Tuesday, Minister of Commerce Simon Power asked officials to fast-track work to ensure the integrity of investments in KiwiSaver.
Huljich Wealth Management has brought the spotlight on KiwiSaver account management after it failed to disclose that its then-managing director Peter Huljich had injected cash into the funds because it had not performed well.
Carmel Fisher, managing director of Fisher Funds, says it's great the minister is treating the issue with some urgency but she is concerned it might be an over-reaction to "one player, on one side".
"I do worry that it's a bit of a sledge hammer and nut scenario. You've got one player who hasn't followed the rules...he hasn't operated under the code of practice that the rest of the industry operates under.
"I worry that the whole industry is now going to have to report more regularly or incur more costs," she says.
Fisher says the reality is that most non-default fund managers report regularly anyway.
"I just hope that the focus is on the right area," Fisher adds.
"I think broadly the industry is doing a good job and it will be wrong to turn the whole thing upside down for the sake of one player."
