Briefs: ASX listing second best for Genworth, BNZ picks agency, and more

Genworth Financial "tired to offload" its Australian lenders mortgage insurance subsidiary to the former's Canadian-listed subsidiary in early 2011, the Financial Review reported in its Street Talk column.The talks did not lead anywhere and in late 2011 Genworth said it would sell up to 40 per cent of its Australian business in an initial public offer, which is expected in the next few months.

Bank of New Zealand has selected Colenso BBDO as its creative advertising agency, New Zealand's National Business Review reports. Colenso was one of the incumbent agencies for Westpac in New Zealand, though Westpac said late yesterday that it is looking to consolidate its providers. This follows a recent review.

The Senate may authorise an inquiry into the actions of Commonwealth Bank and its subsidiary Bank of Western Australia over the latter's management of some business (often commercial property) loans over recent years. The Australian Financial Review reported that the parliamentary Liberal Party now supported an inquiry, as well as the National Party. Support will also be needed from The Greens (or, less likely, the Labor Party) for a resolution to refer the matter to a committee.

The Australian Securities and Investments Commission said it will not investigate any matters of corporate governance arising from allegations of bribery levelled against Note Printing Australia (a subsidiary of the Reserve Bank of Australia) and Securency, an associate company of NPA. Criminal charges have already been laid before the courts concerning both companies and a number of former executives. The charges relate to company sales practices during the 2000s.