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Financial Markets Authority - Latest News [Page 8]
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 >>
FMA Reinforces Importance Of Cyber-resilience For Financial Service Providers
Monday, 30 October 2023, 3:08 pm | Financial Markets Authority
The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – is reminding licensed financial service providers about the importance of cyber-resilience as part of Cyber Smart Week 2023. Cyber Smart Week is CERT NZ’s annual cyber resilience ... More >>
Kiwibank To Pay $812,500 Penalty For Making False And Misleading Representations To Customers
Thursday, 12 October 2023, 2:13 pm | Financial Markets Authority
Kiwibank has been ordered to pay a $812,500 civil penalty at the High Court in Wellington for making false and/or misleading representations to some customers, following proceedings brought by the Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko. Kiwibank ... More >>
Vero To Pay $3.9 Million Penalty For Making False And Misleading Representations About Multi-policy Discounts
Thursday, 12 October 2023, 9:44 am | Financial Markets Authority
The Auckland High Court has ordered Vero Insurance New Zealand Limited (Vero) to pay a penalty of $3.9 million for failing to apply multi-policy discounts to customers, following proceedings brought by the Financial Markets Authority (FMA) – Te Mana ... More >>
FMA Report: Lessons Learned From Barry Kloogh Ponzi
Thursday, 5 October 2023, 9:31 am | Financial Markets Authority
The FMA today published a report on the findings of its inquiries following the Barry Kloogh fraud. These inquiries focused on the services provided to Kloogh by third party market participants. Barry Kloogh was investigated and brought to trial ... More >>
FMA Publishes Final Climate Related Disclosures Regime Record Keeping Guidance
Wednesday, 4 October 2023, 10:07 am | Financial Markets Authority
The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – has published its final guidance for Climate Reporting Entities (CREs) on meeting their record keeping obligations. The guidance sets out principles and the FMA’s expectations ... More >>
New Zealand And UK Audit Authorities Agree Mutual Recognition Of Audit Qualifications
Thursday, 28 September 2023, 9:44 am | Financial Markets Authority
New Zealand and the UK have signed a first of its kind agreement to recognise audit qualifications in both the UK and NZ so that auditors can more easily work between both countries. The Memorandum of Understanding on Reciprocal Arrangements (MOURA) ... More >>
KiwiSaver Holds Firm Through Volatility And Reaches $94BN In March 2023
Wednesday, 20 September 2023, 6:32 am | Financial Markets Authority
Growth funds hit $40BN and fee revenue decreases The FMA’s latest KiwiSaver Annual Report for the year to 31 March shows that KiwiSaver has held firm through a continuing period of market volatility. Total funds in KiwiSaver have grown again this year, ... More >>
Yuen Pok (Paul) Loo Pleads Guilty To Forgery And Financial Markets Legislation Offences
Monday, 18 September 2023, 10:13 am | Financial Markets Authority
The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – can confirm that Yuen Pok (Paul) Loo pleaded guilty to several criminal charges at the Manukau District Court on Friday 15 September. Mr Loo pleaded guilty to: · one charge of ... More >>
