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Promoting fair, efficient and transparent financial markets

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Annual AML/CFT reports
                                                                                           
AFA information return

Change of a director or senior manager notification form                                      
FMA Update newsletter July 2017

 

Case updates

Case updates

  • Forestlands

    Update for Forestlands investors

    7 August 2017

    We have received queries about the sale price of the forests. The Overseas Investment Office has recently published the sale price received by Forestlands. This information is now available on the OIO website which references a sale price of $23,500,000.
     
    Regarding the distribution of funds, as we have previously stated the responsibility for determining a process to allocate funds among the companies or investors remains with the Forestlands companies and their director. The FMA has been informed that the director has instructed third party experts, including Korda Mentha, with a view towards advising on distributions to shareholders of the Forestlands companies.
     
    We cannot comment on other matters that are currently the subject of ongoing inquiries by the SFO or the FMA.
    We will update investors when there is further information available.

  • Jimmy

    Arena Capital Limited/Blackfort update

    20 October 2016

    An investigation into the affairs of Arena Capital Limited, trading as BlackfortFX, led to the FMA obtaining asset preservation orders in relation to BlackfortFX and associated persons in May 2015. The FMA appointed a receiver and manger in relation to BlackfortFX, which was subsequently placed into liquidation in July 2015. The FMA also referred the matter to the Serious Fraud Office (SFO).

    Charges have now been filed by the Serious Fraud Office (SFO) against Jimmie McNicholl in relation to the operation of BlackfortFX who appeared in Court on 20 October 2016. Another person has been charged and is yet to appear on this matter.

    Read SFO announcement.

  • PTT update

    PTT investigation update

    Four companies have been placed into liquidation at the Auckland High Court, following an investigation undertaken by the FMA into Steven Robertson, PTT Limited and related entities. Read details here.

    We want to speak to anyone who has invested with Mr Steven Robertson through PTT Ltd; Maxwell Foster Ltd; Harrington Group Ltd; Gibson McLeod Ltd; Russell & Brown Ltd; Armstrong Group Ltd; Morrison Ross Ltd or Alba International Ltd.

    Please contact us through our online complaint form if you can help.

  • Seeking Morgan Cooper Limited investors

    Seeking Morgan Cooper Limited investors

    MCL purports to offer foreign exchange currency programmes, and operates the website www.morgancooperltd.co.nz. Anyone who has been in contact with MCL or Mr McCall in relation to the offer of such programmes, or any other form of financial product or service, is encouraged to contact the FMA on 0800 434 566, or log a complaint via our website.

    Mr Paul Clifford Hibbs and Hansa Limited

    Along with the Serious Fraud Office, we are investigating Mr Paul Clifford Hibbs and Hansa Limited (Hansa).

    Anyone who had been in contact with Hibbs or Hansa in relation to the offer of financial advice, investment services or other form of financial product or service  is encouraged to contact us on 0800 434 566, or log a complaint via our website.

Changing your KiwiSaver provider

Changing your KiwiSaver provider

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    Thinking of changing your KiwiSaver provider? Here is 5 things to ask before moving your KiwiSaver.

    Read more >

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What to expect from your financial services provider

What to expect from your financial services provider

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    Do you know what to expect when dealing with a financial services provider? Watch our video to find out.

    Read more >

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    KiwiSaver sales and advice

    This guidance note outlines our view on what advisers or providers of KiwiSaver should talk to investors about, types of advice and the use of customer incentives.

    Read more >

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    A guide to the FMA's view of conduct

    This guide describes why good conduct matters and how high standards of conduct support fair, efficient and transparent markets.  

    Read more >

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    Code of Professional Conduct for AFAs

    The revised Code of Professional Conduct has now been published. See how this impacts you.

    Read more >

 

Latest reports

Latest reports

 

Latest guidance

Latest guidance

  • KS fees

    Fee disclosure by managed funds

    19 July 2017

    We have issued a methodology notice which helps KiwiSaver scheme providers calculate the total fees charged to each investor. 

  • Non-gaap

    Disclosing non-GAAP financial information

    13 July 2017

    This updated guidance note replaces our 2012 guidance note to reflect FMC Act requirements and our findings after reviewing non-GAAP financial information since 2012.

  • Shares to MIPs

    Information sheet: Designation of certain shares in investment companies as MIPs

    15 May 2017

    This information sheet explains the class notice which designates certain shares in investment companies as managed investment products, and the company which issues them as a managed investment scheme. It explains when we will consider individually designating particular shares to be issued by an investment company as managed investment products.

  • Fund updates

    Changes to quarterly fund updates 

    13 December 2016

    The Financial Markets Conduct Amendment Regulations 2015 introduced new requirements for MIS quarterly fund updates, but we’ve noticed some fund updates are not yet including them.

    This is a courtesy reminder that these amendments are in effect and need to be factored into your quarterly fund updates. To help with this we’ve published some information about fund updates on our website, including a list of the key amendments.

     

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