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Financial Markets Authority - Latest News [Page 4]
Forestlands’ Director, Rowan Kearns, Pleads Guilty To Making False Statements And Charges Related To Financial Reporting
Thursday, 9 February 2023, 9:37 am | Financial Markets Authority
The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – today confirmed that Rowan Kearns, the founder and sole director of the Forestlands group of companies, last week pled guilty to the following charges in criminal proceedings for disclosure ... More >>
FMA Publishes 2022 Annual Report
Tuesday, 24 January 2023, 1:35 pm | Financial Markets Authority
The Financial Markets Authority - Te Mana Tātai Hokohoko (FMA) has today published its annual report for the year to 30 June 2022 . The report details a year that encompassed four main areas of focus for the regulator: monitoring and oversight of financial ... More >>
FMA Publishes Fund Manager Risk Assessment Report
Thursday, 19 January 2023, 12:06 pm | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has today published its Managed Investment Schemes (MIS) Sector Risk Assessment , which analyses key risks in the funds management industry at a sector level. The report notes effective ... More >>
FMA Appoints Stuart Johnson To New Chief Economist Role
Wednesday, 18 January 2023, 12:47 pm | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has appointed Stuart Johnson to the newly created role of Chief Economist. Mr Johnson brings nearly 20 years’ experience to the FMA, as an economist and behavioural science expert within ... More >>
Cigna To Pay $3.5 Million Penalty For Making False And Misleading Representations About Insurance Premiums And Cover
Tuesday, 17 January 2023, 12:38 pm | Financial Markets Authority
The Wellington High Court has ordered Cigna Life Insurance New Zealand Limited to pay a final pecuniary penalty of $3,575,000 for making false and/or misleading representations relating to inflation benefits in certain life insurance policies provided by the ... More >>
FMA Suspends Crowdfunding Licence Of The Property Crowd
Thursday, 22 December 2022, 12:19 pm | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has suspended the crowdfunding provider licence of The Property Crowd after the entity materially contravened its licensee obligations. The Property Crowd (TPC) has had financial reporting failures, ... More >>
FMA Files Court Proceedings Against Tiger Brokers, Alleging AML/CFT Act Breaches
Wednesday, 21 December 2022, 2:09 pm | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has filed civil High Court proceedings against Tiger Brokers (NZ) Limited for allegedly breaching the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act 2009 ... More >>
NZICA Publishes Disciplinary Outcomes Relating To Wynyard Audit By PwC
Wednesday, 21 December 2022, 1:51 pm | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko notes the New Zealand Institute of Chartered Accountants (NZICA) has released its disciplinary decisions arising from the 2015 PwC audit of the formerly NZX-listed Wynyard Group. The FMA ... More >>
ASX 24 Derivatives Market And SGX-DT Reviews Released
Thursday, 15 December 2022, 12:13 pm | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has published the findings of its market operator obligations reviews for the Australian Securities Exchange Limited (ASX 24 derivatives market) and Singapore Exchange Derivatives Trading ... More >>
FMA Warns Pencarrow Private Equity Management For AML/CFT Record-keeping Failures
Thursday, 15 December 2022, 10:13 am | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has formally warned Pencarrow Private Equity Management Limited for breaching record-keeping requirements under the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act. ... More >>
FMA Files Market Manipulation Case Against Kok Ding Cheng For Trading Of Rua Shares
Wednesday, 14 December 2022, 10:18 am | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has filed High Court civil proceedings against Kok Ding Cheng, an experienced retail investor based in Auckland, for alleged market manipulation of NZX-listed shares of Rua Bioscience ... More >>
FMA Progressing CoFI Implementation With Publication Of Licensing Materials
Wednesday, 30 November 2022, 11:05 am | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko is continuing to progress preparations for the Financial Markets (Conduct of Institutions) Amendment Act 2022 (CoFI), with the release of a suite of materials for banks, insurers and ... More >>
FMA Finds Continuing Improvements To Audit Quality
Wednesday, 16 November 2022, 12:04 pm | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has found audit firms have improved their record keeping in relation to accounting estimates and how they are being sceptical of entities’ financial statements. The FMA’s Audit ... More >>
FMA Formally Warns Wholesale Property Investment Firms After Discovering Non-compliant Practices
Thursday, 20 October 2022, 9:50 am | Financial Markets Authority
The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko has found several conduct concerns in the wholesale property investment sector , and issued seven formal warnings. The FMA commenced a review of wholesale investments into property-related ... More >>
FMA Warns InvestNow For AML/CFT Deficiencies And Failures
Wednesday, 19 October 2022, 8:57 am | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has issued a formal warning to InvestNow Saving and Investment Service Limited for failing to comply with anti-money laundering requirements, including conducting customer due diligence, ... More >>
FMA Files Proceedings Against Vero For Allegedly Misleading Customers About Multi-policy Discounts
Monday, 17 October 2022, 9:16 am | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has filed High Court proceedings against Vero Insurance New Zealand Limited for failing to apply multi-policy discounts, which led to affected customers being overcharged approximately $8.7 million ... More >>
$150 Million Returned To Customers Following Conduct And Culture Reviews Of Banks And Insurers
Thursday, 6 October 2022, 9:13 am | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko today said customer remediation by banks and life insurers following the Conduct and Culture reviews was progressing well, with the total dollar value returned to customers now reaching ... More >>
FMA’s KiwiSaver 2022 Annual Report Shows Scheme’s Resilience
Tuesday, 4 October 2022, 8:42 am | Financial Markets Authority
KiwiSaver funds under management have shown net growth of 10% to $89.7 billion for the year ended 31 March 2022, despite the retirement savings scheme navigating another turbulent period for global markets. After its 15th year, KiwiSaver’s size is now ... More >>
Eighty-six Per Cent Of Financial Advice Providers Now On Full Licensing Path
Monday, 3 October 2022, 1:45 pm | Financial Markets Authority
Eighty-six per cent of financial advice providers have now embarked on – or completed – the full licence application process, according to latest statistics from the Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko. Data from 30 September ... More >>
AIA To Pay $700,000 Penalty For False And Misleading Representations To Customers
Friday, 30 September 2022, 11:26 am | Financial Markets Authority
The Auckland High Court has ordered life insurer AIA to pay a pecuniary penalty of $700,000 for making false and/or misleading representations to some customers, following proceedings brought by the Financial Markets Authority (FMA) - Te Mana ... More >>
