Financial Markets Authority - Latest News [Page 2]

Westpac refunding $7 million for incorrect fees

Tuesday, 6 August 2019, 10:40 am | Financial Markets Authority

The Financial Markets Authority (FMA) and Commerce Commission have formally agreed with Westpac the steps the bank must take to refund fees to some 93,000 customers being overcharged $7 million. More >>

FMA suspends AxiCorp derivatives licence

Thursday, 1 August 2019, 1:39 pm | Financial Markets Authority

The Financial Markets Authority (FMA) has suspended the derivatives issuer licence of AxiCorp Financial Services Pty Limited (trading as AxiTrader) for material breaches of the Financial Markets Conduct Act 2013, including: More >>

New Zealand launches ‘investment passport’

Friday, 26 July 2019, 1:30 pm | Financial Markets Authority

Kiwi investors and managed funds will now be able to do business more easily with Australia, Japan and Thailand, after New Zealand’s implementation of the Asia Region Funds Passport (ARFP). More >>

FMA confirms date for transitional licensing applications

Thursday, 25 July 2019, 9:46 am | Financial Markets Authority

The Financial Markets Authority (FMA) today announced it will start accepting transitional licence applications from 4 November 2019. More >>

Investor confidence stable and improving over time

Wednesday, 24 July 2019, 10:10 am | Financial Markets Authority

Confidence in New Zealand’s financial markets has remained stable over the past two years, despite volatile global markets and a focus on the culture and conduct of major financial institutions in Australia and New Zealand. More >>

FMA issues Stop Order against Syndicated Trusts Limited

Tuesday, 23 July 2019, 2:55 pm | Financial Markets Authority

The Financial Markets Authority (FMA) has issued a Stop Order against Syndicated Trusts Limited (STL), ordering the company to stop advertising or accepting money for financial products. More >>

FMA sets out key focus areas for the year ahead

Tuesday, 23 July 2019, 10:56 am | Financial Markets Authority

The FMA today published its Annual Corporate Plan (ACP), which outlines its work plan for the next financial year and sets objectives for raising standards of behaviour across financial services. The development of the 2019-20 ACP is based on a new sector-based ... More >>

FMA annual review of NZX published

Thursday, 27 June 2019, 11:00 am | Financial Markets Authority

The Financial Markets Authority (FMA) has published its annual review of whether NZX met its statutory obligations as a licensed market operator. More >>

Banks commit to removing incentives for frontline staff

Monday, 24 June 2019, 2:04 pm | Financial Markets Authority

The FMA and Reserve Bank of New Zealand said today that all banks had committed to remove sales incentives from frontline staff and their managers. More >>

$40,000 fine in first FMA case of company abuse of the FSPR

Thursday, 6 June 2019, 1:33 pm | Financial Markets Authority

Morgan DeVere fined $40,000 in first FMA case of company abuse of the FSPR More >>

21 charges filed by FMA against man over ‘investments’

Wednesday, 29 May 2019, 1:31 pm | Financial Markets Authority

21 charges filed by FMA against man who convinced members of the public to ‘invest’ with him More >>

Gap between what investors expect and what auditors deliver

Tuesday, 21 May 2019, 9:34 am | Financial Markets Authority

An FMA research project with investors, directors, managers and auditors has identified reasonable levels of confidence in audit quality, but also a serious gap in the expectations of investors and what auditors are delivering. The FMA commissioned the research ... More >>

10 formal AML/CFT warnings issued by FMA

Monday, 13 May 2019, 2:10 pm | Financial Markets Authority

The Financial Markets Authority (FMA) has issued formal warnings to 10 reporting entities under Section 80 of the Anti-Money Laundering and Countering Financing of Terrorism Act (AML/CFT Act). More >>

Liam Mason speech on Life Insurance Culture & Conduct review

Friday, 10 May 2019, 3:05 pm | Financial Markets Authority

The FMA was established about 8 years ago, to be the first conduct regulator of New Zealand’s financial markets. Our principal legislation is the Financial Markets Conduct Act. It’s no surprise then that conduct is our main priority - it’s what ... More >>

Company convicted for abuse of the FSPR

Friday, 3 May 2019, 2:57 pm | Financial Markets Authority

Morgan DeVere Corporate Finance Limited (Morgan DeVere) has been convicted at the Wellington District Court on two counts of breaching the Financial Services Providers Act 2008 (FSP Act) for falsely claiming it was registered on the Financial Services ... More >>

Director sentenced to community service for abuse of FSPR

Tuesday, 16 April 2019, 11:38 am | Financial Markets Authority

A New Zealand-based director of Morgan DeVere Corporate Finance Limited has been sentenced to 75 hours of community service for breaching the Financial Service Providers (Registration and Dispute Resolution) Act 2008. (FSP Act). The FMA alleges that the ... More >>

FMA files civil proceedings over trading in Oceania Natural

Monday, 15 April 2019, 4:58 pm | Financial Markets Authority

The Financial Markets Authority (FMA) has issued civil proceedings in the High Court against four individuals in relation to trading in Oceania Natural Limited. (ONL) The proceedings relate to alleged breaches of market manipulation prohibitions and ... More >>

Statement on Supreme Court judgment on ANZ v FMA

Friday, 12 April 2019, 12:22 pm | Financial Markets Authority

The FMA is pleased with the Supreme Court decision in the matter between ANZ and the FMA, released this morning. More >>

Former CFO to pay $150,000, barred for SMA breaches

Tuesday, 9 April 2019, 3:03 pm | Financial Markets Authority

Mark Stephen Talbot, a former virtual chief financial officer of VMob (now Plexure) will pay $150,000 in lieu of a penalty and is barred from acting as a director or manager of a listed business for 5 years. Mr Talbot has admitted to insider trading ... More >>

AML/CFT monitoring report highlights concerns, sets focus

Monday, 1 April 2019, 10:13 am | Financial Markets Authority

The Financial Markets Authority (FMA) has published an Anti-Money Laundering and Countering the financing of terrorism (AML/CFT) monitoring report setting out the areas requiring further attention by the management and boards of the reporting entities ... More >>

   

 

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