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Financial Markets Authority - Latest News [Page 13]
FMA Cancels Financial Advice Provider’s Transitional Licence
Monday, 13 December 2021, 9:23 am | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has cancelled the transitional financial advice provider (FAP) licence of Wisdom House Investment Partners Limited, after its sole financial adviser engaged in serious misconduct at his previous ... More >>
FMA Files Civil Proceedings Against Kiwibank For False Or Misleading Representations Over Fee Waivers
Thursday, 9 December 2021, 11:03 am | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has filed High Court civil proceedings against Kiwibank for making false and/or misleading representations, under the fair dealing provisions of the Financial Markets Conduct Act (FMC Act). ... More >>
AML/CFT Risk Ratings Confirmed For Sectors Under FMA Supervision
Tuesday, 7 December 2021, 9:12 am | Financial Markets Authority
A new report by the Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has found that derivatives issuers (DI’s) and cryptocurrency service providers are in the high risk category for meeting anti-money laundering and counter-terrorism ... More >>
FMA Publishes Implementation Approach For Climate-related Disclosure Regime
Wednesday, 17 November 2021, 11:18 am | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has published its implementation approach for the Financial Sector (Climate-related Disclosures and Other Matters) Amendment Bill ( CRD Bill ). The document outlines the FMA’s approach ... More >>
Auditors Respond Well To Challenges Presented By COVID-19
Wednesday, 10 November 2021, 10:11 am | Financial Markets Authority
Auditors have responded well to financial reporting challenges presented by the pandemic, according to the Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko Audit Quality Monitoring Report for 2020/21 . Despite COVID-19 creating higher levels ... More >>
Self-reporting Issues To FMA Does Not Provide Immunity From Litigation
Thursday, 4 November 2021, 1:54 pm | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko - has laid its expectations for how firms under its supervision should deal with the regulator when day-to-day interactions evolve in the event of an enforcement process. Karen Chang, FMA Head ... More >>
New Climate-related Disclosure Regime Expands FMA’s Responsibilities
Thursday, 21 October 2021, 4:54 pm | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko acknowledges the passage of the third reading of the Financial Sector (Climate-related Disclosures and Other Matters) Amendment Bill. The new legislation will require certain entities, ... More >>
FMA Censures Jarden For Derivatives Issuer Licence Breaches By OMF
Thursday, 14 October 2021, 9:59 am | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has formally censured Jarden Securities Limited for contraventions by OM Financial Limited (OMF) as a licensed derivatives issuer (DI). OMF co-mingled derivative investor money with its own money, ... More >>
FMA Issues Guidance On Advertising Of Financial Products
Wednesday, 13 October 2021, 9:57 am | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has issued new guidance on how firms should be advertising financial products. The regulator consulted on proposed guidance on advertising last year. The final guidance, published today, ... More >>
FMA Censures Firma NZ For Breaches To Derivatives Issuer Licence Obligations
Monday, 11 October 2021, 9:57 am | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko – has censured Firma Foreign Exchange Corporation (NZ) Limited after finding it had materially contravened a number of its obligations as a licensed derivatives issuer (DI). Through its ongoing ... More >>
DIY Investors Encouraged To ‘take A Mo’ Before Giving In To FOMO
Monday, 4 October 2021, 8:58 am | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko is urging DIY online investors to pause before succumbing to investment FOMO as part of World Investor Week (4-10 October). Recent research by the FMA into online investing platforms found ... More >>
FMA Steps Up Enforcement Of Anti-money Laundering Breaches
Thursday, 30 September 2021, 8:57 am | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has escalated its enforcement approach to non-compliance with New Zealand’s anti-money laundering and countering financing of terrorism (AML/CFT) rules, according to a new report. ... More >>
FMA Appoints Karen Chang As Acting General Counsel
Wednesday, 29 September 2021, 12:14 pm | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has appointed its current Head of Enforcement, Karen Chang, as Acting General Counsel until the FMA’s new Chief Executive joins next year. <img src="https://img.scoop.co.nz/stories/images/2109/2e65e3069c072657da28.jpeg" ... More >>
Momentum Builds In KiwiSaver As Scheme Reaches $81 Billion
Tuesday, 28 September 2021, 11:01 am | Financial Markets Authority
The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – has released its KiwiSaver Annual Report based on providers’ statistics for the year ended March 2021, which shows total funds under management reached $81.6 billion, or double the ... More >>
Credit Card Repayment Insurance A Poor Value Product, Customers Urged To Check Policies
Thursday, 23 September 2021, 11:03 am | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko - is urging an estimated 200,000 New Zealanders who have credit card repayment insurance (CCRI) to check if they still need the product, after a review found it to be poor value . CCRI is a ... More >>
FMA sees spike in investment scam complaints since COVID
Wednesday, 15 September 2021, 9:03 am | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko – is warning New Zealanders to be on the lookout for three unique types of scams that have been on the rise since the start of COVID-19. The warning comes as the FMA responds to a ... More >>
FMA announces appointment of new Chief Executive
Monday, 13 September 2021, 11:33 am | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko – has announced the appointment of experienced international regulator Samantha Barrass as its new Chief Executive. More >>
FMA issues warning to Sharesies for AML/CFT breaches
Monday, 23 August 2021, 8:54 am | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko – has issued a formal warning to Sharesies Limited and Sharesies Nominee Limited for failing to have sufficient anti-money laundering procedures, policies, and controls in place. ... More >>
FMA Accuses CEO Of Market Manipulation For Anonymous Posts On Investor Forum
Thursday, 12 August 2021, 9:05 am | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko – has filed civil High Court proceedings against Matthew Geoffrey Hill, the Chief Executive Officer of NZX-listed New Talisman Gold Mines Limited (NTL), for alleged information-based ... More >>
AIA Admits False And Misleading Representations To Customers In FMA Fair-dealing Proceedings
Thursday, 29 July 2021, 11:52 am | Financial Markets Authority
Life insurer AIA has admitted making false and/or misleading representations to customers in proceedings brought by the Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko. The case was filed in the Auckland High Court and alleges three ... More >>
