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Financial Markets Authority - Latest News [Page 2]
FMA Encourages New Zealanders To Be Aware Of Investment Scams
Monday, 13 November 2023, 10:26 am | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko – is reminding New Zealanders to remain vigilant to investment scams as part of Fraud Awareness Week 2023. Fraud Awareness Week 2023 runs from 13-18 November and this year’s focus ... More >>
FMA Makes Interim Stop Order Against David McEwen And Entities Associated With Him
Thursday, 9 November 2023, 5:57 pm | Financial Markets Authority
The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – has made an interim stop order against David Elgar McEwen and entities associated with him from making offers of financial products and from accepting any further or new deposits ... More >>
CTRL Investments Limited Issued Infringement Notice For Late Financial Statements
Thursday, 2 November 2023, 2:13 pm | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko – has issued an infringement notice to derivatives issuer CTRL Investments Limited (CTRL) for failing to file financial statements by the due date. CTRL has been licensed by the FMA as ... More >>
Former Financial Adviser Pleads Guilty To Dishonesty Offences
Wednesday, 1 November 2023, 2:40 pm | Financial Markets Authority
The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – charged a former financial adviser with multiple dishonesty offences following an investigation into her conduct. Natalie Ann Carter, a former Hawke’s Bay-based mortgage broker, ... More >>
FMA Reinforces Importance Of Cyber-resilience For Financial Service Providers
Monday, 30 October 2023, 3:08 pm | Financial Markets Authority
The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – is reminding licensed financial service providers about the importance of cyber-resilience as part of Cyber Smart Week 2023. Cyber Smart Week is CERT NZ’s annual cyber resilience ... More >>
Kiwibank To Pay $812,500 Penalty For Making False And Misleading Representations To Customers
Thursday, 12 October 2023, 2:13 pm | Financial Markets Authority
Kiwibank has been ordered to pay a $812,500 civil penalty at the High Court in Wellington for making false and/or misleading representations to some customers, following proceedings brought by the Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko. Kiwibank ... More >>
Vero To Pay $3.9 Million Penalty For Making False And Misleading Representations About Multi-policy Discounts
Thursday, 12 October 2023, 9:44 am | Financial Markets Authority
The Auckland High Court has ordered Vero Insurance New Zealand Limited (Vero) to pay a penalty of $3.9 million for failing to apply multi-policy discounts to customers, following proceedings brought by the Financial Markets Authority (FMA) – Te Mana ... More >>
FMA Report: Lessons Learned From Barry Kloogh Ponzi
Thursday, 5 October 2023, 9:31 am | Financial Markets Authority
The FMA today published a report on the findings of its inquiries following the Barry Kloogh fraud. These inquiries focused on the services provided to Kloogh by third party market participants. Barry Kloogh was investigated and brought to trial ... More >>
FMA Publishes Final Climate Related Disclosures Regime Record Keeping Guidance
Wednesday, 4 October 2023, 10:07 am | Financial Markets Authority
The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – has published its final guidance for Climate Reporting Entities (CREs) on meeting their record keeping obligations. The guidance sets out principles and the FMA’s expectations ... More >>
New Zealand And UK Audit Authorities Agree Mutual Recognition Of Audit Qualifications
Thursday, 28 September 2023, 9:44 am | Financial Markets Authority
New Zealand and the UK have signed a first of its kind agreement to recognise audit qualifications in both the UK and NZ so that auditors can more easily work between both countries. The Memorandum of Understanding on Reciprocal Arrangements (MOURA) ... More >>
KiwiSaver Holds Firm Through Volatility And Reaches $94BN In March 2023
Wednesday, 20 September 2023, 6:32 am | Financial Markets Authority
Growth funds hit $40BN and fee revenue decreases The FMA’s latest KiwiSaver Annual Report for the year to 31 March shows that KiwiSaver has held firm through a continuing period of market volatility. Total funds in KiwiSaver have grown again this year, ... More >>
Yuen Pok (Paul) Loo Pleads Guilty To Forgery And Financial Markets Legislation Offences
Monday, 18 September 2023, 10:13 am | Financial Markets Authority
The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – can confirm that Yuen Pok (Paul) Loo pleaded guilty to several criminal charges at the Manukau District Court on Friday 15 September. Mr Loo pleaded guilty to: · one charge of ... More >>
FMA Acknowledges Guilty Verdict In Pushpay Insider Trading Case
Wednesday, 23 August 2023, 6:20 pm | Financial Markets Authority
The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko –acknowledges today’s guilty verdict in the criminal trial of an individual accused of insider conduct in relation to the sale of shares in Pushpay Holdings Limited (NZX:PPH). ... More >>
FMA Issues Warning To Enprise Group Limited
Friday, 11 August 2023, 10:04 am | Financial Markets Authority
The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – has issued Enprise Group Limited (Enprise) a warning for failing to keep proper accounting records. These records are required to ensure financial statements comply with generally accepted ... More >>
CoFI Licensing Begins
Tuesday, 25 July 2023, 10:07 am | Financial Markets Authority
From today the Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – will begin accepting licensing applications for financial institution licences under the Conduct of Financial Institutions (CoFI) regime. Under CoFI, about 100 registered ... More >>
Forestlands Sole Director, Rowan Kearns, Sentenced For Making False Statements And Financial Reporting Offences
Friday, 21 July 2023, 1:52 pm | Financial Markets Authority
Rowan Kearns, the founder and sole director of the Forestlands group of companies, was sentenced yesterday to four months’ community detention and 100 hours’ community work with a 9pm – 7am curfew. The sentence follows a prosecution brought by the ... More >>
Highest Penalties To Date For Market Manipulation Ordered For Oceania Natural Limited Defendants
Friday, 21 July 2023, 10:55 am | Financial Markets Authority
The penalty hearing for the first and second defendants in the Oceania Natural Limited (ONL) proceeding brought by the Financial Markets Authority – Te Mana Tātai Hokohoko – was heard at the High Court in Auckland last Thursday, 13 July. Previously, on ... More >>
FMA Publishes Scenario Analysis Information Sheet For Climate Related Disclosures Regime
Tuesday, 18 July 2023, 10:51 am | Financial Markets Authority
The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – has today released its scenario analysis information sheet to help climate reporting entities (CREs) meet their obligations under the Climate-Related Disclosures (CRD) regime. ... More >>
FMA Releases Standard Condition For Consultation To Improve Operational And Cyber Resilience
Wednesday, 12 July 2023, 10:41 am | Financial Markets Authority
The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – today released a consultation document on its proposal to introduce a new standard condition for certain financial market licence holders. The new licence condition will focus on ... More >>
FMA Makes Permanent Stop Order Against Validus After Appeal Is Dismissed In The High Court
Wednesday, 5 July 2023, 11:00 am | Financial Markets Authority
The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – has made a permanent stop order (Order) that applies to Validus International LLC (Validus), Validus-FZCO, and associated persons of Validus, using the FMA’s powers under the ... More >>
