Financial Markets Authority

Scoop InfoPages

This InfoPage in unregistered, if this is your news page register Financial Markets Authority for InfoPages here.

Financial Markets Authority - Latest News [Page 1]

FMA Seeks Clarity From High Court On Use Of Eligible Investor Certificates In Wholesale Investment Sector

Monday, 23 December 2024, 12:12 pm | Financial Markets Authority

The proceeding follows investigations into the use of eligible investor certificates by various wholesale property developers. These investigations followed the FMA’s thematic review of wholesale offers of financial products. More >>

Westpac Admits To Misleading Representations That Resulted In $6.35m In Overcharges

Monday, 23 December 2024, 11:03 am | Financial Markets Authority

The FMA and Westpac have agreed to resolve the proceedings on terms acceptable to all parties. A penalty hearing before the High Court will take place in due course. More >>

FMA Files Civil Proceedings Against InvestNow For Alleged AML/CFT Breaches

Friday, 20 December 2024, 6:51 pm | Financial Markets Authority

The proceedings follow a warning the FMA issued to InvestNow in September 2022 for failing to comply with AML/CFT Act requirements, including conducting customer due diligence to the extent required by the Act, and having adequate and effective processes ... More >>

Individual Pleads Guilty To Insider Trading Charges

Friday, 20 December 2024, 3:17 pm | Financial Markets Authority

The FMA brought four charges against Mr Young. He has today pleaded guilty to three charges, with the FMA agreeing to withdraw one charge. More >>

FMA Censures Pathfinder For Misleading Representations

Wednesday, 18 December 2024, 10:48 am | Financial Markets Authority

Pathfinder, which had been improving the clarity of its Ethical Investment Policy, made a list of exceptions it has granted available on its website after being contacted by the FMA, and promptly took down the two advertisements when the FMA brought the ... More >>

FMA Cancels Auditor’s Licence To Carry Out FMC Audits For Multiple Failures

Wednesday, 11 December 2024, 11:52 am | Financial Markets Authority

The decisions stem from the audit of former FMC reporting entity Alliant Perpetual’s financial statements for the year ended 31 January 2022 (the audit) which was conducted by Mr Danieli. More >>

FMA Encouraged By First Climate Statements

Wednesday, 4 December 2024, 7:18 pm | Financial Markets Authority

The FMA reviewed 70 climate statements that were prepared by climate reporting entities (CREs) for reporting periods ended between December 2023 and March 2024. More >>

CBLC Update

Monday, 2 December 2024, 6:55 pm | Financial Markets Authority

The FMA considers that it is in the public interest to continue the IPO proceeding against the estate given Mr Hutchison’s central involvement in the Samoa Transaction. The High Court agreed that this does not amount to an abuse of process and that a ... More >>

FMA Publishes Refreshed Audit Quality Monitoring Report

Thursday, 28 November 2024, 11:24 am | Financial Markets Authority

The FMA’s Audit Quality Monitoring Report for 2023/24, released today, reviewed nine of the 12 registered audit firms in New Zealand and 19 audit files, 10 of which were of listed entities. It was the first time the FMA has reviewed most audit firms ... More >>

FMA Publishes Market Cleanliness Research Report Into New Zealand Equity Market

Thursday, 31 October 2024, 9:27 am | Financial Markets Authority

Market Cleanliness in the New Zealand Equity Market research, published today, examined trading behaviour at a macro level in the lead up to market announcements between 2004-2024. More >>

FMA Publishes 2024 Annual Report

Thursday, 24 October 2024, 2:52 pm | Financial Markets Authority

FMA Chief Executive, Samantha Barrass, said: "This year has seen the passing of milestones in key areas related to our expanding remit, including Conduct of Financial Institutions and Climate-related Disclosures. More >>

FMA Publishes First Insights Report Into Discretionary Investment Management Services Sector

Thursday, 24 October 2024, 5:56 am | Financial Markets Authority

DIMS is a large part of the wealth management sector in New Zealand. It involves investors giving their provider authority to use their discretion about buying and selling financial products on their behalf. More >>

FMA Publishes Research On Commercial Real Estate And The Kiwisaver Industry

Monday, 14 October 2024, 9:44 am | Financial Markets Authority

Commercial real estate has become an important alternative asset class for fund managers, and was previously seen as a relatively low-risk investment option within a diversified portfolio. More >>

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 >>

Scoop InfoPages