ASIC has permanently banned former senior financial planner with NAB, Hardik Bhimani, from providing financial services after an investigation found he had misappropriated advice fees owed to his employer, charged his clients excessive fees, and failed to provide a client with statements of advice. ASIC also found reason to believe that Bhimani was not of good fame and character. Bhimani is at least the 15th financial adviser to be banned by ASIC as part of its Wealth Management Project, looking at the largest advice providers. NAB said it alerted ASIC to Bhimani's conduct and fully refunded advice fees to affected clients. Moody's Investors Service has raised to "Probable" from "Improbable" the Timely Payment Indicator for all New Zealand covered bond programs. "The adjustment of the TPI follows our review of Asia Pacific covered bonds, and reflects the increasing market depth and supportive legal framework in New Zealand," Moody's reported. The TPI for all Australian covered bond programs, which is "Probable", remained unchanged. Moody's has also lowered the refinancing margins for all New Zealand and Australian covered bond programs, thereby aligning them with those of the covered bonds in other highly rated countries. Media and marketing online news service Adnews reports that Masterchef is on the TV foodies' menus again, with new sponsors. The report includes this bland blurb, attributed to ANZ's head of marketing, Carolyn Bendall: "... ANZ is one of the sponsors joining the program this year and … We're very excited to be joining the MasterChef Australia journey this year. It's inspiring to see how invested people of all ages and stages right across Australia are in creativity in the kitchen - it's the perfect platform for us to launch some new creations of our own as the series unfolds." We're wondering what it is that ANZ has on the boil.]