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Financial Markets Authority - Latest News [Page 2]
Understanding Artificial Intelligence In Financial Services
Monday, 16 September 2024, 2:22 am | Financial Markets Authority
Effective AI integration requires careful consideration of data quality, technology choice, and documentation. Our research underscores these aspects as critical for minimising risks and ensuring ethical use. More >>
FMA Cancels Rockfort Markets’ Derivative Issuer Licence Following High Court Appeal
Monday, 16 September 2024, 2:06 am | Financial Markets Authority
The FMA has cancelled Rockfort Markets' Derivative Issuer licence due to significant breaches of licence obligations, citing ongoing non-compliance and inadequate governance. More >>
FMA Cancels Integrity Advisers Insurance Limited’s Financial Advice Provider Licence
Sunday, 15 September 2024, 11:06 pm | Financial Markets Authority
The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – has cancelled Integrity Advisers Insurance Limited’s (Integrity) Financial Advice Provider (FAP) licence for engaging in serious misconduct. More >>
FMA Files Criminal Charges Against Former Financial Adviser
Sunday, 15 September 2024, 10:49 pm | Financial Markets Authority
The FMA alleges that the defendant procured approximately $1.7 million from two sets of clients on the basis that he would invest the funds procured on their behalf. More >>
CBL Managing Director Peter Harris Ordered To Pay $1.4m Penalty For Fair Dealing And Continuous Disclosure Breaches
Thursday, 22 August 2024, 2:20 pm | Financial Markets Authority
The High Court has ordered Peter Harris, the former CBL Corporation Limited (In Liquidation) (CBLC) managing director, to pay a penalty of $1.4 million for continuous disclosure and misleading conduct breaches following proceedings brought by the Financial Markets ... More >>
FMA Statement On Statutory Management For Du Val Corporations
Wednesday, 21 August 2024, 6:48 pm | Financial Markets Authority
The FMA’s recommendation was based both on its own investigations and a report from the Court- appointed interim receivers, PwC New Zealand (Report). The Report is currently subject to Court orders restricting its publication. More >>
Oceania Natural Limited Defendants Banned From Holding Senior Management Positions For Nine Years
Tuesday, 6 August 2024, 2:04 pm | Financial Markets Authority
The pair were found to have breached the market manipulation and disclosure provisions under the FMC Act in April 2023. More >>
Du Val Group Placed Into Interim Receivership By High Court
Friday, 2 August 2024, 10:55 am | Financial Markets Authority
The High Court has placed Du Val Capital Partners Limited, together with a number of entities within the Du Val Group, into interim receivership, at the request of the Financial Markets Authority – Te Mana Tātai Hokohoko. More >>
FMA Warns Individual For Market Manipulation
Tuesday, 30 July 2024, 10:26 am | Financial Markets Authority
The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – has issued a warning to an individual online trader for suspected market manipulation. More >>
FMA Publishes Guidance Note For Providers Of Client Money Or Property Services
Wednesday, 24 July 2024, 12:07 pm | Financial Markets Authority
The guidance addresses previous issues the FMA observed through monitoring visits and misconduct cases and was finalised following consultation with providers and custodians in 2022. More >>
FMA Censures CTRL For Derivatives Issuer Licence Breaches
Friday, 19 July 2024, 1:30 pm | Financial Markets Authority
CTRL notified the FMA of the NTA breach in October 2023 following FMA enquiries about the late filing of its financial statements for the year ended 31 March 2023. More >>
Understanding Fairness In Financial Services
Thursday, 18 July 2024, 10:47 am | Financial Markets Authority
The majority of New Zealanders generally agree on what constitutes fairness in financial services, research commissioned by the Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – has found. More >>
FMA Censures DeVere For Breaching Its Licence Obligations
Wednesday, 3 July 2024, 11:36 am | Financial Markets Authority
The Financial Markets Authority (FMA) – Te Mana Tatai Hokohoko – has censured Auckland-based financial services firm deVere New Zealand Limited (deVere) for failing to comply with obligations under its Financial Advice Provider (FAP) licence. More >>
NZX Meets Its Market Operator Licence Requirements – FMA Report
Tuesday, 25 June 2024, 2:49 pm | Financial Markets Authority
The annual NZX Market Operator Obligations Review, released today, assesses how well the NZX is meeting the requirements for its market operator licence. The report found NZX met all its obligations during the review period from 1 January 2023 to 31 December ... More >>
Time For Your Annual KiwiSaver Health Check
Tuesday, 25 June 2024, 9:14 am | Financial Markets Authority
The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – and the Retirement Commission – Te Ara Ahunga Ora – are together calling on KiwiSaver members to check their annual statements this year and see if they are on track for their retirement ... More >>
FMA Publishes Auditor Regulation And Oversight Plan
Thursday, 20 June 2024, 1:24 pm | Financial Markets Authority
The plan is similar to last year’s. As the FMA has moved to annual monitoring of audit firms, rather than periodic reviews previously, our approach is continuously updated where appropriate. More >>
FMA And XRB Issue User Guides To Help Users Of Climate Statements
Wednesday, 19 June 2024, 10:16 am | Financial Markets Authority
The “What You Need to Know” guide provides an overview of the CRD regime for people such as primary users (existing and potential investors, lenders, and other creditors) of climate statements, journalists and other intermediaries who use or ... More >>
FMA Provides Additional Support To Smaller Firms For CoFI Licensing
Friday, 14 June 2024, 11:24 am | Financial Markets Authority
The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – has today published an information sheet specifically for smaller firms to assist in establishing and maintaining a Fair Conduct Programme (FCP) and applying for a Financial Institution ... More >>
FMA Files Civil Proceedings Against Booster Investment Management Ltd And Individual Directors And Senior Managers
Wednesday, 12 June 2024, 1:25 pm | Financial Markets Authority
The proceedings allege breaches of the Financial Markets Conduct Act (FMCA) by BIML and the following directors and senior managers of BIML: Allan Yeo (director), Paul Foley (director), Brendon Doyle (former director), David Beattie (senior manager) ... More >>
FMA Opens Consultation On Proposed Standard Conditions For Derivatives Issuers
Tuesday, 11 June 2024, 8:01 pm | Financial Markets Authority
The proposed changes have been identified in the FMA’s 2020 Derivatives Issuer Sector Risk Assessment (SRA) and subsequent monitoring of the sector. More >>
