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Financial Markets Authority - Latest News [Page 4]
Former Financial Adviser Pleads Guilty To Charges Of Theft
Monday, 30 June 2025, 10:00 am | Financial Markets Authority
Mr McClune had worked in the insurance industry since the late 1960s. He had an established book of clients, including some who had used his services for decades and considered him a friend. More >>
Former CBL Group CFO Ordered To Pay Penalty And Costs For Continuous Disclosure Breaches
Friday, 27 June 2025, 9:17 pm | Financial Markets Authority
CBL Corporation Limited (CBLC) publicly listed in October 2015, and the contraventions occurred over a five-month period in the lead up to its subsequent collapse in February 2018. More >>
Statement By The FMA On Senior Trust Retirement Village Income Generator Limited
Friday, 27 June 2025, 4:20 pm | Financial Markets Authority
Concurrently with the investigation, the FMA has consulted STIG about aspects of its business. As part of the FMA’s discussions with STIG, STIG has agreed to register an amended PDS. The FMA did not object to the PDS being lodged in its current form. ... More >>
New Report Sets Out Key Areas Of FMA Focus For Year Ahead
Friday, 27 June 2025, 7:42 am | Financial Markets Authority
FMA chief executive Samantha Barrass said: “We are responding to the clear desire for transparency, certainty and improved engagement with the sector, by setting out our priorities and the drivers behind what we’re doing. More >>
FMA Cancels Filcare Services Limited’s Financial Advice Provider Licence
Thursday, 26 June 2025, 1:44 pm | Financial Markets Authority
Filcare held a full financial advice provider licence, providing financial advice to approximately 1,800 retail clients, many of whom were migrant workers from the Filipino community. More >>
NZX Receives Positive Report Card
Wednesday, 18 June 2025, 12:03 pm | Financial Markets Authority
The annual NZX Market Operator Obligations Review, released today, assesses how well 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 to 31 December ... More >>
FMA Consults On Class Exemption For Buy-Backs Of Quoted Debt Securities
Friday, 13 June 2025, 2:26 pm | Financial Markets Authority
If granted, the exemption would allow listed issuers to buy back their own quoted debt securities off-market, without needing to prepare certain information in a disclosure document or adhere to certain timing requirements. More >>
FMA Issues Infringement Notice To Pharmazen Limited
Friday, 30 May 2025, 10:52 am | Financial Markets Authority
The FMA’s infringement notice requires Pharmazen to pay a $7,500 fee for an infringement offence under s 461H of the FMC Act. It has 28 days to pay the infringement fee or respond to the notice. More >>
FMA Releases Good Cents: Kiwis On Savings And Debt Research
Thursday, 29 May 2025, 10:51 am | Financial Markets Authority
Good Cents: Kiwis on Savings and Debt looks into New Zealanders' attitudes and behaviours towards savings, debt reduction, and financial guidance. It identifies three main areas for improvement for financial providers such as banks, insurers and investment ... More >>
FMA Issues A Warning On Managed Investment Scheme
Thursday, 22 May 2025, 11:10 am | Financial Markets Authority
FMA has issued a public warning about a managed investment scheme operated by Jesse Joseph Vaughan and former NZ company Crypto Partners Limited (CPL). More >>
Update On The Pushpay Insider Trading Appeal
Friday, 9 May 2025, 11:15 am | Financial Markets Authority
FMA Head of Enforcement Margot Gatland says, “We were pleased with the Court’s decision to uphold this conviction. Insider trading is a serious offence that undermines investor confidence in New Zealand markets." More >>
Experienced Investor Found Liable For Market Manipulation
Thursday, 1 May 2025, 4:48 pm | Financial Markets Authority
FMA Head of Enforcement, Margot Gatland said, “Mr Cheng’s orders lacked a genuine commercial purpose and were instead made for the purposes of increasing the price and/or demand for RUA shares at a time when he held a material shareholding in the ... More >>
Former Heartland Bank Accountant Sentenced On Insider Trading Charges
Thursday, 17 April 2025, 5:14 pm | Financial Markets Authority
The Auckland District Court today ordered Mr Young to serve a sentence of six months home detention and pay a fine of $11,241 (the gain from his offending). More >>
FMA Files Criminal Charge Against Former Financial Adviser
Friday, 11 April 2025, 10:11 am | Financial Markets Authority
The FMA alleges that Mr Gounder, while acting as a licensed financial adviser, submitted a false document, namely a gifting certificate, in support of a home loan application made on behalf of a client. More >>
FMA Files Civil Proceedings Against IAG For Fair Dealing Breaches
Friday, 4 April 2025, 10:12 am | Financial Markets Authority
The breaches arise from IAG’s failures to correctly price the premiums charged to customers, and its failures to correctly advertise and apply important discounts to its insurance products sold via its business divisions and distribution partners. More >>
FMA Unveils Review Into Financial Advice Accessibility To Drive Better Outcomes For The Financial Advice Sector
Wednesday, 2 April 2025, 2:53 pm | Financial Markets Authority
The review aims to get to the core of these issues to improve where the FMA focuses its regulatory efforts, to be more forward looking and risk based and make better decisions on interventions. More >>
CoFI Regime Now In Effect
Monday, 31 March 2025, 11:11 am | Financial Markets Authority
FMA Director of Deposit Taking, Insurance and Advice, Michael Hewes, says: “CoFI is fundamentally about treating customers and potential customers fairly - this is the fair conduct principle. More >>
FMA Releases Update On Outcomes-focused Regulation
Thursday, 20 March 2025, 3:31 pm | Financial Markets Authority
An outcomes-focused approach means the FMA focuses its resources on the end results that regulation is aiming to achieve for consumers and financial markets. More >>
FMA Files Criminal Charges Against David McEwen
Tuesday, 18 March 2025, 2:53 pm | Financial Markets Authority
The FMA alleges that Mr McEwen failed to comply with the stop order by continuing to make offers and accept contributions for financial products. More >>
FMA Issues Warning To Evco Pacific Limited And Its Directors For Breaching Disclosure Requirements
Thursday, 13 March 2025, 4:31 pm | Financial Markets Authority
In the FMA’s view, EVCO and its directors breached the FMCA by failing to provide the required disclosure to investors about an offer of shares in EVCO by its parent company EVCO International Limited during the period 27 November 2017 through to ... More >>
