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Financial Markets Authority - Latest News [Page 3]
CBL Managing Director Admits Continuous Disclosure And Fair Dealing Contraventions And Agrees Enforceable Undertaking
Monday, 25 March 2024, 11:02 am | Financial Markets Authority
The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – has reached agreement with former CBL Corporation Limited (In Liquidation) (CBLC) managing director Peter Harris on claims relating to continuous disclosure breaches and misleading ... More >>
Natalie Carter Sentenced To 12 Months Home Detention For Forgery And Financial Markets Legislation Offences
Wednesday, 13 March 2024, 10:49 am | Financial Markets Authority
Natalie Ann Carter, a former Hawke’s Bay-based mortgage broker, has been sentenced to 12 months home detention following a criminal prosecution brought by the Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko. Ms Carter appeared in the Napier ... More >>
FMA Files Proceedings Against Tower Limited For Alleged Fair Dealing Breaches
Thursday, 7 March 2024, 2:07 pm | Financial Markets Authority
The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – has filed civil proceedings against Tower Limited (Tower) for failing to apply multi policy discounts to eligible customers’ premiums, resulting in approximately $9.5 million* ... More >>
Yuen Pok (Paul) Loo Sentenced For Forgery And Financial Markets Legislation Offences
Thursday, 8 February 2024, 10:00 am | Financial Markets Authority
Yuen Pok (Paul) Loo, a former financial adviser, has been sentenced in the Manukau District Court to a combination of six months’ community detention with a 7pm to 7am curfew, 200 hours’ community work and 12 months’ intensive supervision following ... More >>
Matthew Hill Admits Breaching Financial Markets Legislation
Thursday, 25 January 2024, 2:40 pm | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko – confirmed today Matthew Geoffrey Hill, the former Chief Executive Officer of NZX-listed New Talisman Gold Mines Limited, has admitted making false and misleading representations in breach ... More >>
CBL Corporation And Four Independent Directors Ordered To Pay Penalties
Friday, 22 December 2023, 3:15 pm | Financial Markets Authority
The High Court has ordered CBL Corporation Limited (CBLC) and four of its former directors to pay penalties for continuous disclosure and misleading conduct breaches following proceedings brought by the Financial Markets Authority (FMA) – Te Mana ... More >>
FMA Warns Of Increase In Fake Product Disclosure Statement Scams Targeting New Zealanders
Thursday, 21 December 2023, 11:20 am | Financial Markets Authority
The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – is urging New Zealanders to remain vigilant and protect themselves from investment scams this holiday season. This comes during a period of escalating scam reports to the FMA. ... More >>
Former Financial Adviser Pleads Guilty To Further Dishonesty Offences
Friday, 15 December 2023, 9:26 am | Financial Markets Authority
Natalie Ann Carter, a former Hawke’s Bay-based mortgage broker, has pleaded guilty to a further three criminal charges brought against her by the Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko. Ms Carter faced 15 charges following an ... More >>
FMA Censures Go Financial Solutions For Breaching Its Licence Obligations
Thursday, 14 December 2023, 10:46 am | Financial Markets Authority
The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – has censured Go Financial Solutions Limited for failing to comply with several obligations under its financial advice provider (FAP) licence. Go Financial Solutions is a Christchurch-based ... More >>
FMA Makes Permanent Stop Order Against David McEwen And Entities Associated With Him
Friday, 8 December 2023, 10:49 am | Financial Markets Authority
The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – has made a permanent stop order against David Elgar McEwen and entities associated with him (McEwen and Associates). The stop order prohibits McEwen and Associates from: Making ... More >>
FMA Publishes 2023 Annual Report
Tuesday, 5 December 2023, 10:26 am | Financial Markets Authority
The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – today published its annual report for the year to 30 June 2023. The report captures the FMA’s delivery of its core activities to monitor and supervise firms for conduct, implement new ... More >>
Agreement Signed By New Zealand Regulator And Global Standards Body To Uphold And Promote Financial Market Integrity
Thursday, 30 November 2023, 10:11 am | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko – has signed a Consultation Agreement with the Financial Markets Standards Board (FMSB). The Agreement formalises cooperation between the FMA and FMSB. The FMA supports the primary objectives ... More >>
FMA Cancels Foundation Advice Limited’s Financial Advice Provider Licence
Tuesday, 28 November 2023, 10:28 am | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko - has cancelled Foundation Advice Limited’s (FAL) Financial Advice Provider (FAP) licence. FAL was an Auckland-based FAP offering advice on life and health insurance as well as ... More >>
Medical Assurance Society To Pay $2.1 Million Penalty For Making False And Misleading Representations To Customers
Monday, 27 November 2023, 9:52 am | Financial Markets Authority
Medical Assurance Society New Zealand Limited (MAS) has been ordered to pay a pecuniary penalty of $2.1 million for making false and/or misleading representations to some customers, following proceedings brought by the Financial Markets Authority (FMA) ... More >>
FMA Finds Continuous Improvements To Audit Quality And Warns Against Complacency
Friday, 24 November 2023, 9:53 am | Financial Markets Authority
The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – has found audit firms continue to improve the quality of their audits of FMC reporting entities. The FMA’s Audit Quality Monitoring Report for 2022/23 , released today, says audit ... More >>
FMA Opens Consultation On Fair Outcomes For Consumers And Markets
Wednesday, 15 November 2023, 10:06 am | Financial Markets Authority
The Financial Markets Authority – Te Mana Tātai Hokohoko – has opened consultation on its approach to outcomes focused regulation, including the fair outcomes for consumers and markets it wants to see financial service providers focus on. The FMA welcomes ... More >>
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 >>
