Celebrating 25 Years of Scoop
Licence needed for work use Learn More
 

Financial Markets Authority - Latest News [Page 1]

FMA Files Proceedings Against ASB For Alleged Fair Dealing Breaches

Tuesday, 8 October 2024, 1:17 pm | Financial Markets Authority

The FMA alleges that the misapplication of the multi policy discount arose through errors in the manual process undertaken by ASB staff at the point of sale for insurance products. More >>

AA Insurance To Pay $6.175 Million Penalty For Misleading Customers

Monday, 7 October 2024, 12:18 pm | Financial Markets Authority

AAI admitted its conduct, which resulted in approximately $11.12 million in overcharges, breached section 22 of the Financial Markets Conduct Act (FMC Act). The breaches primarily arose out of failure and deficiencies in its systems and processes. More >>

FMA Appoints Kari Jones As Executive Director Transformation And Operational Delivery

Thursday, 3 October 2024, 4:38 pm | Financial Markets Authority

Kari joins the FMA from Health New Zealand, Te Whatu Ora, where she is Chief Data Officer, leading a team of over 170 people. Prior to joining Health New Zealand, she specialised in advanced analytics and insights at Woolworths. More >>

FMA Files Civil Proceedings Against QEX Logistics Limited And Its Director, Jingjie Xue

Wednesday, 2 October 2024, 10:30 am | Financial Markets Authority

The FMA alleges that QEX, an FMC reporting entity, failed to prepare and lodge its financial statements for the year ending 31 March 2021, 2022, and 2023 with the Registrar of Companies. More >>

KiwiSaver Passes Milestone Of $100 Billion Of Funds Under Management

Tuesday, 24 September 2024, 1:15 pm | Financial Markets Authority

John Horner, FMA Director Markets, Investors and Reporting, said, “Breaking through the $100 billion mark is something to celebrate; for a relatively small country like New Zealand, it represents a coming of age of KiwiSaver.” More >>

FMA Files Criminal Proceedings Against Individual For Alleged Insider Trading

Tuesday, 17 September 2024, 10:53 am | Financial Markets Authority

A criminal proceedings has been filed against an individual for alleged insider trading relating to the buying and selling of shares in Heartland Group Holdings Limited (HGH) the financial markets authority More >>

FMA Publishes Ethical Investing Disclosure Insights Update

Monday, 16 September 2024, 2:28 am | Financial Markets Authority

The insights follow the FMA’s 2022 thematic review of how managed investment scheme (MIS) managers had applied the FMA’s disclosure framework for integrated financial products guidance issued in 2020. More >>

Understanding Artificial Intelligence In Financial Services

Monday, 16 September 2024, 2:22 am | Financial Markets Authority

Effective AI integration requires careful consideration of data quality, technology choice, and documentation. Our research underscores these aspects as critical for minimising risks and ensuring ethical use. More >>

FMA Cancels Rockfort Markets’ Derivative Issuer Licence Following High Court Appeal

Monday, 16 September 2024, 2:06 am | Financial Markets Authority

The FMA has cancelled Rockfort Markets' Derivative Issuer licence due to significant breaches of licence obligations, citing ongoing non-compliance and inadequate governance. More >>

FMA Cancels Integrity Advisers Insurance Limited’s Financial Advice Provider Licence

Sunday, 15 September 2024, 11:06 pm | Financial Markets Authority

The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – has cancelled Integrity Advisers Insurance Limited’s (Integrity) Financial Advice Provider (FAP) licence for engaging in serious misconduct. More >>

FMA Files Criminal Charges Against Former Financial Adviser

Sunday, 15 September 2024, 10:49 pm | Financial Markets Authority

The FMA alleges that the defendant procured approximately $1.7 million from two sets of clients on the basis that he would invest the funds procured on their behalf. More >>

CBL Managing Director Peter Harris Ordered To Pay $1.4m Penalty For Fair Dealing And Continuous Disclosure Breaches

Thursday, 22 August 2024, 2:20 pm | Financial Markets Authority

The High Court has ordered Peter Harris, the former CBL Corporation Limited (In Liquidation) (CBLC) managing director, to pay a penalty of $1.4 million for continuous disclosure and misleading conduct breaches following proceedings brought by the Financial Markets ... More >>

FMA Statement On Statutory Management For Du Val Corporations

Wednesday, 21 August 2024, 6:48 pm | Financial Markets Authority

The FMA’s recommendation was based both on its own investigations and a report from the Court- appointed interim receivers, PwC New Zealand (Report). The Report is currently subject to Court orders restricting its publication. More >>

Oceania Natural Limited Defendants Banned From Holding Senior Management Positions For Nine Years

Tuesday, 6 August 2024, 2:04 pm | Financial Markets Authority

The pair were found to have breached the market manipulation and disclosure provisions under the FMC Act in April 2023. More >>

Du Val Group Placed Into Interim Receivership By High Court

Friday, 2 August 2024, 10:55 am | Financial Markets Authority

The High Court has placed Du Val Capital Partners Limited, together with a number of entities within the Du Val Group, into interim receivership, at the request of the Financial Markets Authority – Te Mana Tātai Hokohoko.  More >>

FMA Warns Individual For Market Manipulation

Tuesday, 30 July 2024, 10:26 am | Financial Markets Authority

The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – has issued a warning to an individual online trader for suspected market manipulation. More >>

FMA Publishes Guidance Note For Providers Of Client Money Or Property Services

Wednesday, 24 July 2024, 12:07 pm | Financial Markets Authority

The guidance addresses previous issues the FMA observed through monitoring visits and misconduct cases and was finalised following consultation with providers and custodians in 2022. More >>

FMA Censures CTRL For Derivatives Issuer Licence Breaches

Friday, 19 July 2024, 1:30 pm | Financial Markets Authority

CTRL notified the FMA of the NTA breach in October 2023 following FMA enquiries about the late filing of its financial statements for the year ended 31 March 2023. More >>

Understanding Fairness In Financial Services

Thursday, 18 July 2024, 10:47 am | Financial Markets Authority

The majority of New Zealanders generally agree on what constitutes fairness in financial services, research commissioned by the Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – has found. More >>

FMA Censures DeVere For Breaching Its Licence Obligations

Wednesday, 3 July 2024, 11:36 am | Financial Markets Authority

The Financial Markets Authority (FMA) – Te Mana Tatai Hokohoko – has censured Auckland-based financial services firm deVere New Zealand Limited (deVere) for failing to comply with obligations under its Financial Advice Provider (FAP) licence. More >>

 

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.