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Financial Markets Authority - Latest News [Page 6]
Fund Managers’ Inconsistent Performance Measurement And Cost Of Fees Reduces Benefits To Investors
Wednesday, 18 May 2022, 11:02 am | Financial Markets Authority
The managers of New Zealand managed investment schemes (MIS or KiwiSaver/fund managers) are showing repeatable performance, relative to appropriate market indices. However, the benefits of their skill to investors in some funds is reduced by fees, and the ... More >>
FMA Issues Stop Order Against The One Management GP Limited
Friday, 6 May 2022, 10:54 am | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has today confirmed it has made a stop order against The One Management GP Limited regarding an offer in relation to The One Property LP¹ (the Fund), which is only available to wholesale ... More >>
FMA Issues New Infringement Notice Against Crowdfunding Platform Equitise
Thursday, 7 April 2022, 2:22 pm | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has issued another infringement notice to Equitise Pty Ltd for failing to file financial statements on time, amid broader concerns about the firm’s ability to meet regulatory reporting ... More >>
FMA Issues Interim Stop Order To The One In Longhorn Partnership Fund
Monday, 28 March 2022, 3:02 pm | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has today issued an interim stop order to The One Management GP Limited and James Law Realty regarding an offer in relation to The One in Longhorn Partnership Fund (‘the Fund’), which ... More >>
Two Individuals To Pay Penalties For Market Manipulation And Disclosure Breaches Relating To Oceania Natural
Thursday, 24 March 2022, 2:35 pm | Financial Markets Authority
Zhongyang (Sean) Meng and Jiashun (Sam) Qian have been ordered to pay pecuniary penalties of $180,000 and $130,000 respectively for market manipulation and disclosure breaches involving Oceania Natural Limited (ONL) shares. In 2019 the Financial Markets ... More >>
FMA Directs Simplicity To Remove Misleading Advertising And Improve Compliance Processes
Wednesday, 9 March 2022, 11:12 am | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has directed Simplicity NZ Limited to remove advertising materials that breached fair dealing provisions¹, and ensure future advertising is compliant. The FMA direction relates to Simplicity’s ... More >>
FMA Censures CTRL Investments For Derivatives Issuer Licence Breaches
Tuesday, 1 March 2022, 10:04 am | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has censured CTRL Investments Limited for contravening the conditions of its derivatives issuer (DI) licence. Through its ongoing monitoring of the DI sector, the FMA was satisfied that ... More >>
FMA Files Court Proceedings Alleging Insider Trading Relating To The Sale Of Pushpay Shares
Wednesday, 9 February 2022, 12:17 pm | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has filed proceedings against two individuals for alleged insider trading in relation to the sale of shares in Pushpay Holdings Limited (NZX:PPH). The individuals have been granted interim ... More >>
FMA Publishes 2021 Annual Report
Thursday, 27 January 2022, 9:11 am | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko - has today published its annual report for the year to June 2021 . Throughout the year, the FMA continued to prepare for three new regulatory regimes, including the licensing and supervising ... More >>
First ‘investment Passport’ Under The ARFP Granted To NZ Fund Manager
Wednesday, 26 January 2022, 10:03 am | Financial Markets Authority
The Financial Markets Authority (FMA) has approved Smartshares Limited as a passport fund under the Asia Region Funds Passport (ARFP). ARFP is a multilateral agreement between New Zealand, Australia, Japan, Thailand, and The Republic of Korea that allows ... More >>
Medical Kiwi Admits To Making False And Misleading Statements
Wednesday, 22 December 2021, 9:42 am | Financial Markets Authority
Medicinal cannabis company Medical Kiwi Limited has admitted to breaching the fair dealing provisions of the Financial Markets Conduct Act (FMCA). In August 2020, Medical Kiwi launched an offer for shares on equity crowdfunding platform PledgeMe Ltd. The ... More >>
FMA Warns Squirrel P2P Trustee Limited For Historic Custodian Breaches
Friday, 17 December 2021, 9:11 am | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has formally warned Squirrel P2P Trustee Limited for failing to carry out certain obligations as a custodian. The entity provides a custodial service for the peer-to-peer lending service of Squirrel ... More >>
FMA Cancels Financial Advice Provider’s Transitional Licence
Monday, 13 December 2021, 9:23 am | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has cancelled the transitional financial advice provider (FAP) licence of Wisdom House Investment Partners Limited, after its sole financial adviser engaged in serious misconduct at his previous ... More >>
FMA Files Civil Proceedings Against Kiwibank For False Or Misleading Representations Over Fee Waivers
Thursday, 9 December 2021, 11:03 am | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has filed High Court civil proceedings against Kiwibank for making false and/or misleading representations, under the fair dealing provisions of the Financial Markets Conduct Act (FMC Act). ... More >>
AML/CFT Risk Ratings Confirmed For Sectors Under FMA Supervision
Tuesday, 7 December 2021, 9:12 am | Financial Markets Authority
A new report by the Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has found that derivatives issuers (DI’s) and cryptocurrency service providers are in the high risk category for meeting anti-money laundering and counter-terrorism ... More >>
FMA Publishes Implementation Approach For Climate-related Disclosure Regime
Wednesday, 17 November 2021, 11:18 am | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has published its implementation approach for the Financial Sector (Climate-related Disclosures and Other Matters) Amendment Bill ( CRD Bill ). The document outlines the FMA’s approach ... More >>
Auditors Respond Well To Challenges Presented By COVID-19
Wednesday, 10 November 2021, 10:11 am | Financial Markets Authority
Auditors have responded well to financial reporting challenges presented by the pandemic, according to the Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko Audit Quality Monitoring Report for 2020/21 . Despite COVID-19 creating higher levels ... More >>
Self-reporting Issues To FMA Does Not Provide Immunity From Litigation
Thursday, 4 November 2021, 1:54 pm | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko - has laid its expectations for how firms under its supervision should deal with the regulator when day-to-day interactions evolve in the event of an enforcement process. Karen Chang, FMA Head ... More >>
New Climate-related Disclosure Regime Expands FMA’s Responsibilities
Thursday, 21 October 2021, 4:54 pm | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko acknowledges the passage of the third reading of the Financial Sector (Climate-related Disclosures and Other Matters) Amendment Bill. The new legislation will require certain entities, ... More >>
FMA Censures Jarden For Derivatives Issuer Licence Breaches By OMF
Thursday, 14 October 2021, 9:59 am | Financial Markets Authority
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has formally censured Jarden Securities Limited for contraventions by OM Financial Limited (OMF) as a licensed derivatives issuer (DI). OMF co-mingled derivative investor money with its own money, ... More >>
