Air New Zealand is trialling a new direct service between Sydney and Rarotonga in the high season next year, while its latest operating update shows it is generally increasing the number of people on flights by reducing capacity.

The direct service from Sydney to Rarotonga will operate between July and October next year using a 223-seat Boeing 767-300 with a configuration of 199 economy and 24 business class seats.

Prime Minister John Key has signed a Tax Information Exchange agreement with Cook Islands Prime Minister Jim Marurai as part of efforts to clamp down on tax evasion and avoid another wine-box affair.

Revenue Minister Peter Dunne said the Tax Information Exchange Agreement provides for full exchange of information on criminal and civil tax matters between the two countries.

"The agreement will enable the tax authorities of both countries to gain access to information about income and assets that would-be evaders try to hide in the other country," Mr Dunne said.

Former MP Matt Robson and Tasman Capital are forging ahead with plans to list WSD Global Markets on the NZX, despite a Serious Fraud Office investigation into alleged money laundering operations by WSD's related company in the Cook Islands.

SFO director Grant Liddell last night confirmed to NBR that the Cook Islands-based WSBC and “associated entities” were under investigation. WSBC out-sources its margin trading operations to WSD Global Markets.