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Financial Markets Authority - Latest News [Page 15]
KiwiSaver Statements Starting To Help Members Take Action
Thursday, 6 August 2020, 9:17 am | Financial Markets Authority
A third of KiwiSaver members who read their annual statement this year recalled seeing their projected retirement lump sum, a Financial Markets Authority (FMA) survey has found . This year, for the first time, members’ statements included an estimated ... More >>
FMA Outlines Short-term Priorities In Response To COVID-19
Monday, 27 July 2020, 4:05 pm | Financial Markets Authority
The Financial Markets Authority (FMA) has today released an information sheet outlining its priorities over the next three to six months as New Zealand continues to respond to COVID-19. Rob Everett, FMA CEO, said COVID-19 has significantly impacted the global ... More >>
FMA Publishes Derivatives Issuer Sector Risk Assessment
Friday, 24 July 2020, 9:10 am | Financial Markets Authority
The Financial Markets Authority (FMA) has today published a report identifying key risks in the Derivatives Issuer (DI) sector and highlighted future focus areas to improve sector compliance. Derivatives are complex financial instruments and trading ... More >>
Kiwis Confident Financial Markets Will Recover From COVID-19, Plan To Increase Investments
Wednesday, 22 July 2020, 9:09 am | Financial Markets Authority
Despite the majority (60%) of investors experiencing losses as a result of COVID-19, the outlook on investing remains positive, according to a Financial Markets Authority (FMA) survey. Most Kiwis (71%) were optimistic that the pandemic will pass eventually ... More >>
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 >>
