SecCom looking into door-to-door KiwiSaver sales

The Securities Commission is investigating complaints about KiwiSaver being marketed to people at home.

It is against the law to sell investments by going door-to-door at residential properties.

An Inland Revenue spokesperson said it had received calls during the year about the way KiwiSaver was being marketed to homes, and had reported them to the commission as they were a breach of the Securities Act, The New Zealand Herald reported.

A commission spokeswoman confirmed it had received complaints about the practice and was investigating.

The selling of investments door-to-door at houses was prohibited to ensure people were not subject to high pressure sales tactics at their own home, she said.

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