Financial Markets Authority - Latest News [Page 1]

FMA Publishes NZX Obligations Annual Review

Tuesday, 30 June 2020, 9:46 am | Financial Markets Authority

NZX met its statutory obligations as a licensed market operator for the period 1 January to 31 December 2019, according to the Financial Markets Authority (FMA)’s annual review. The NZX General Obligations Review , published by the FMA today, found ... More >>

FMA Welcomes Start Date Of New Financial Advice Regime And Confirmation Of Disclosure Requirements

Thursday, 25 June 2020, 11:42 am | Financial Markets Authority

The Financial Markets Authority (FMA) is encouraging financial advisers to apply for their transitional licences by the end of the year, as the Government announces final details of the new financial advice regime. The Government today released the ... More >>

FMA Files Proceedings Against CLSAP NZ (formerly KVB Kunlun) For Alleged Anti-Laundering Breaches

Tuesday, 23 June 2020, 4:04 pm | Financial Markets Authority

The Financial Markets Authority (FMA) has filed civil High Court proceedings against CLSA Premium New Zealand Limited (CLSAP NZ) for alleged breaches of the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act. CLSAP NZ, formerly ... More >>

FMA Statement On Director Liability And Continuous Disclosure

Wednesday, 17 June 2020, 2:30 pm | Financial Markets Authority

The Financial Markets Authority (FMA) has considered the need for regulatory relief in relation to director liability thresholds, following changes in Australia. The Australian Government has, for a period of six months from 26 May 2020, relaxed the ... More >>

FMA KiwiSaver Tracker Updated, Showing Part Of COVID-19 Impact

Wednesday, 17 June 2020, 11:13 am | Financial Markets Authority

The FMA’s online KiwiSaver tracker tool has been updated with the quarterly fund information for March 2020, reflecting the volatility that hit markets in the first quarter of the year. The tracker allows comparisons over both a five-year and one-year ... More >>

FMA Opens Consultation On Standard Conditions For Full Licensing For Financial Advice

Wednesday, 17 June 2020, 9:16 am | Financial Markets Authority

The Financial Markets Authority (FMA) has opened consultation on the proposed full licence standard conditions for Financial Advice Providers, as part of the new financial advice regime. The FMA is considering eight standard conditions for full licences: ... More >>

Rodney McCall (aka Rodney Crichton) Pleads Guilty To Crimes Act And FMA Act Charges

Thursday, 11 June 2020, 6:33 pm | Financial Markets Authority

Rodney McCall, also known as Rodney Crichton, has today plead guilty to charges brought by the Financial Markets Authority (FMA). In the Manukau District Court, Mr McCall plead guilty to: Two representative charges of obtaining by deception under ... More >>

Court Of Appeal Rejects Sentence Appeal By PTT’s Steven Robertson

Friday, 5 June 2020, 6:36 pm | Financial Markets Authority

The Financial Markets Authority (FMA) has welcomed the Court of Appeal’s decision to dismiss a sentence appeal by Steven Robertson, who defrauded victims of $2.1 million through PTT Limited. In October 2019, Mr Robertson was sentenced by the High Court ... More >>

FMA Files Court Proceedings Against ANZ For False And Misleading Representations

Friday, 5 June 2020, 9:26 am | Financial Markets Authority

The Financial Markets Authority (FMA) has filed High Court proceedings against ANZ Bank New Zealand (ANZ), alleging the bank charged some customers for credit card repayment insurance (CCRI) policies that offered those customers no cover. The FMA ... More >>

KiwiSaver Investors To See How Much They May Have In Retirement

Wednesday, 3 June 2020, 9:15 am | Financial Markets Authority

KiwiSaver investors will see how much money their KiwiSaver investments could provide at age 65 when they open their annual statements this year. Launching a campaign to help KiwiSaver members interpret their statements, FMA Chief Executive, Rob Everett ... More >>

FMA Warns Financial Adviser For Advice To Clients About COVID-19

Thursday, 28 May 2020, 10:11 am | Financial Markets Authority

The Financial Markets Authority (FMA) has issued a formal warning to a financial adviser who made recommendations to clients that they urgently move their investments to ‘low risk’ funds in the wake of COVID-19. The adviser failed to clarify that ... More >>

Campaign To Raise Scam Awareness Among Pacific Communities As Reports Rise

Wednesday, 13 May 2020, 9:19 am | Financial Markets Authority

The Financial Markets Authority (FMA) and Commerce Commission have launched a campaign to raise awareness of investment scams and pyramid schemes among Pacific communities in New Zealand. It follows concerns about scams targeting Pacific communities and ... More >>

FMA And External Reporting Board Release Review Of Key Audit Matters Reporting

Wednesday, 6 May 2020, 10:41 am | Financial Markets Authority

The Financial Markets Authority (FMA) and External Reporting Board (XRB) have released their second joint review of key audit matters , after audit reporting standards were lifted three years ago. Key audit matters (KAMs) are issues that, in the auditor’s ... More >>

FMA Stops Misleading Ads For COVID-19 Health Insurance

Tuesday, 7 April 2020, 12:35 pm | Financial Markets Authority

The Financial Markets Authority (FMA) is warning people about misleading claims that they need health insurance to cover emergency medical bills for COVID-19. Last week the FMA successfully requested the removal of two advertorials a financial adviser ... More >>

FMA Issues Warning To Tiger Brokers And Six Firms For Anti-money Laundering Breaches

Monday, 6 April 2020, 10:16 am | Financial Markets Authority

The Financial Markets Authority (FMA) has issued a formal warning to NZX-accredited broker Tiger Brokers (NZ) Limited for failing to have several adequate anti-money laundering protections in place. The regulator has also privately warned six other ... More >>

KiwiSaver Members Urged To Use Hardship Withdrawals As A Last Resort

Tuesday, 31 March 2020, 9:04 am | Financial Markets Authority

KiwiSaver members under financial stress due to the effects of COVID-19 are urged to consider all forms of Government and bank support before resorting to withdrawing money from their retirement savings through hardship applications. Retirement Commissioner ... More >>

FMA To Extend Deadline For Financial Reporting

Thursday, 19 March 2020, 3:26 pm | Financial Markets Authority

The Financial Markets Authority (FMA) is providing regulatory relief to market participants to give them an additional two months to provide their audited financial statements. Due to the disruption caused by COVID-19, the FMA is taking appropriate steps to ... More >>

Support For Investors And Industry; Regulatory Burden Reduced

Thursday, 19 March 2020, 3:17 pm | Financial Markets Authority

The Financial Markets Authority (FMA) is closely monitoring the impact of the coronavirus situation on New Zealand’s financial markets and considering all available options to ensure markets continue to function well and to support participants, customers ... More >>

FMA Debate Discusses Whether Passive Or Active Management Is Best

Thursday, 20 February 2020, 12:02 pm | Financial Markets Authority

Leaders from New Zealand’s investment industry gathered in Auckland last night to debate whether investors benefit more from passive or active fund management, a topic that is dividing the sector. The event, hosted by the Financial Markets Authority ... More >>

FMA files civil proceedings against CBL Corporation

Tuesday, 17 December 2019, 11:35 am | Financial Markets Authority

The FMA has issued two sets of civil proceedings in the Auckland High Court against CBL Corporation Limited (In liquidation) (CBLC), the six directors and the chief financial officer alleging multiple breaches of the Financial Markets Conduct Act ... More >>

 

 
 
 
 
 

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