Media releases

Found 393 results. Displaying page 1 of 20

1. 16 August 2018

   KiwiSaver members say dollar fee information is useful

   The vast majority (86%) of KiwiSaver members who saw their fees in dollar amounts in their annual statements this year rated the information as “quite or very useful”, an FMA survey has found. Members rated their current balance as the most useful information on the statement.

   https://fma.govt.nz/news-and-resources/media-releases/ks-members-say-dollar-fee-information-is-useful/

2. 14 August 2018

   Decision in the case stated procedure between FMA and the administrators of CBL Corporation Limited

   The High Court has found that an issuer’s continuous disclosure obligations do not apply during administration. The judge stated in his decision “that the disclosure / reporting obligations of an issuer in voluntary administration are contained within Part 15A of the Companies Act and while the issuer is in administration, the continuous disclosure obligations are suspended.”

   https://fma.govt.nz/news-and-resources/media-releases/decision-in-the-case-stated-procedure-between-fma-and-the-administrators-of-cbl-corporation-limited/

3. 9 August 2018

   FMA sets out its work plan for the year ahead

   The FMA has released its annual corporate plan as the conduct and culture of New Zealand’s financial services industry comes under greater scrutiny.

   https://fma.govt.nz/news-and-resources/media-releases/fma-sets-out-its-work-plan-for-the-year-ahead/

4. 18 July 2018

   Customers not the focus of replacement business at large insurers

   FMA is considering regulatory action against three large financial institutions or qualifying financial entities following a review of insurance replacement business practices.

   https://fma.govt.nz/news-and-resources/media-releases/customers-not-the-focus-of-replacement-business-at-large-insurers/

5. 13 July 2018

   CBL investigation update

   The FMA investigation into the conduct of CBL Corporation Limited (“CBL”) and its directors is ongoing. Due to investor interest in these matters an update on the investigation is appropriate at this time.

   https://fma.govt.nz/news-and-resources/media-releases/cbl-investigation-update/

6. 12 July 2018

   Investors show mixed levels of understanding while confidence in financial markets remains stable

   Confidence in New Zealand’s financial markets has remained stable since 2017, despite uncertainty around a potential trade war, volatile global markets and a focus on the culture and conduct of major financial institutions in Australia and New Zealand.

   https://fma.govt.nz/news-and-resources/media-releases/investors-show-mixed-levels-of-understanding-while-confidence-in-financial-markets-remains-stable/

7. 5 July 2018

   Individual falsely holding himself out as financial adviser sentenced to community work and community detention

   Garry James Patterson has been sentenced to 200 hours’ community work and 3 months’ community detention at the Christchurch District Court after pleading guilty to two charges brought by the Financial Markets Authority (FMA).

   https://fma.govt.nz/news-and-resources/media-releases/individual-falsely-holding-himself-out-as-financial-adviser-sentenced-to-community-work-and-community-detention/

8. 3 July 2018

   FMA statement on Blackfort/Arena sentencing

   The FMA acknowledges the sentencing today in the Serious Fraud Office’s criminal prosecution of Mr Jimmy McNicholl and Mr Lance Ryan, also known as Lance Jared Thompson. These individuals were prosecuted in relation to a Ponzi scheme in Christchurch that resulted in hundreds of people investing a total of $8.3m.

   https://fma.govt.nz/news-and-resources/media-releases/fma-statement-on-blackfortarena-sentencing/

9. 28 June 2018

   Annual review of NZX published

   NZX generally complied with its obligations during the review period. However, a lack of market experience in its market surveillance function meant NZX did not meet its obligation to have adequate arrangements to monitor the conduct of participants on, or in relation to its markets.

   https://fma.govt.nz/news-and-resources/media-releases/annual-review-of-nzx-published-2/

10. 30 May 2018

    Financial Services Conduct and Culture Review

    RBNZ and FMA briefed the Finance and Expenditure Select committee on the Australian Royal Commission (RC) into Misconduct in Banking, Superannuation and Financial Services Industry, and the response by regulators in New Zealand.

    https://fma.govt.nz/news-and-resources/media-releases/financial-services-conduct-and-culture-review/

11. 24 May 2018

    Letter sent to life insurers by the FMA and Reserve Bank of New Zealand

    The FMA and the RBNZ have sent the letter below to the chief executives of New Zealand’s licensed life insurers

    https://fma.govt.nz/news-and-resources/media-releases/letter-sent-to-life-insurers-by-the-fma-and-reserve-bank-of-new-zealand/

12. 24 May 2018

    Market cleanliness summer scholarship study published

    The Financial Markets Authority (FMA) and NZX Regulation (NZXR) today published a study carried out by Victoria University student Anna Hensen, ‘New Zealand Equity Market Cleanliness for the years 2010-2016’.

    https://fma.govt.nz/news-and-resources/media-releases/market-cleanliness-summer-scholarship-study-published/

13. 18 May 2018

    FMA campaign to connect young women with KiwiSaver

    The FMA has developed a KiwiSaver health checker tool to help people answer four important questions about their account.

    https://fma.govt.nz/news-and-resources/media-releases/fma-campaign-to-connect-young-women-with-kiwisaver/

14. 17 May 2018

    CBL Update

    The FMA intends to file a case stated procedure to seek the court’s determination on whether continuous disclosure obligations for listed issuers continue to apply when the issuer is in voluntary administration.

    https://fma.govt.nz/news-and-resources/media-releases/cbl-update/

15. 16 May 2018

    Insurers spend $34 million on soft commissions

    A Financial Markets Authority report published today details how nine life and health insurance companies spent $34 million on non-financial incentives like trips, business support and conferences for financial advisers over a two-year period.

    https://fma.govt.nz/news-and-resources/media-releases/insurers-spend-34-million-on-soft-commissions/

16. 15 May 2018

    Second company and director charged over FSPR abuse

    The Financial Markets Authority (FMA) has filed criminal charges against a second company and its New Zealand based director for breaching the Financial Service Providers (Registration and Dispute Resolution) Act (FSP Act) 2008.

    https://fma.govt.nz/news-and-resources/media-releases/second-company-and-director-charged-over-fspr-abuse/

17. 15 May 2018

    FMA releases fourth AFA information report

    Media release MR No. 2018 – 1715 May 2017The Financial Markets Authority today published its fourth statistical report on Authorised Financial Advisers (AFAs) in New Zealand. The FMA requires AFAs to submit an annual information return each year.The report uses the data from that questionnaire to provide a snapshot of the sector for the 12-month period ending June 30th 2017.It has been published in Tableau to enable the industry, media and interested...

    https://fma.govt.nz/news-and-resources/media-releases/fma-releases-fourth-afa-information-report/

18. 14 May 2018

    KiwiSaver trial focused on members in their 50s gets results

    The interim results of a second FMA, MBIE and industry trial has shown targeted communications created using behavioural insights, are more likely to lead KiwiSaver members to make an active decision about their fund.

    https://fma.govt.nz/news-and-resources/media-releases/kiwisaver-trial-focused-on-members-in-their-50s-gets-results/

19. 4 May 2018

    Letter sent to banks by the FMA/Reserve Bank of New Zealand

    The FMA and the RBNZ have sent the letter below to the chief executives of New Zealand’s licensed banks and the NZBA.

    https://fma.govt.nz/news-and-resources/media-releases/letter-sent-by-the-fma-reserve-bank-of-new-zealand/

20. 23 April 2018

    FMA applies to court to liquidate Forestlands companies

    The FMA has applied to the High Court to place the Forestlands companies numbered 2-20 into liquidation.

    https://fma.govt.nz/news-and-resources/media-releases/fma-applies-to-court-to-liquidate-forestlands-companies/