Media releases – 51

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1. 3 June 2020

   KiwiSaver investors to see how much they may have in retirement

   KiwiSaver investors will see how much money their KiwiSaver investments could provide at age 65 when they open their annual statements this year.
2. 28 May 2020

   FMA warns financial adviser for advice to clients about COVID-19

   FMA has issued a formal warning to a financial adviser who made recommendations to clients that they urgently move their investments to ‘low risk’ funds in the wake of COVID-19. The adviser failed to clarify that the advice may not be suitable for all clients.
3. 18 May 2020

   FMA reports steady progress on financial advice transitional licensing

   FMA reports steady progress on financial advice transitional licensing
4. 14 May 2020

   Outcome of MBIE/FMA review of funding and levies

   MBIE have published the outcome of the review of the FMA’s funding and levies which took place earlier this year.
5. 13 May 2020

   Campaign to raise scam awareness among Pacific communities as reports rise

   The FMA has seen a steady increase in complaints about a variety of scams since the beginning of March. The most reported scam was a cryptocurrency campaign on social media using fake news articles and false celebrity endorsements to promote Bitcoin investments.
6. 6 May 2020

   FMA and External Reporting Board release review of key audit matters reporting

   The Financial Markets Authority (FMA) and External Reporting Board (XRB) have released their second joint review of key audit matters, after audit reporting standards were lifted three years ago.
7. 29 April 2020

   FMA suspends EncoreFX licence following voluntary administration

   FMA has suspended the derivatives issuer licence of EncoreFX (NZ) Limited (EncoreFX) after the business was put into voluntary administration by its Canadian parent.
8. 6 April 2020

   FMA issues warning to Tiger Brokers and six firms for anti-money laundering breaches

   The FMA has issued a formal warning to NZX-accredited broker Tiger Brokers (NZ) Limited for failing to have several adequate anti-money laundering protections in place.
9. 19 March 2020

   FMA update on COVID-19

   The Financial Markets Authority (FMA) is closely monitoring the impact of the coronavirus situation on New Zealand’s financial markets and considering all available options to ensure markets continue to function well and to support participants, customers and investors.
10. 20 February 2020

    FMA Debate discusses whether passive or active management is best

    Leaders from New Zealand’s investment industry gathered in Auckland last night (19 Feb 2020) to debate whether investors benefit more from passive or active fund management, a topic that is dividing the sector.
11. 17 December 2019

    FMA files civil proceedings against CBL Corporation, its directors and chief financial officer

    The FMA has issued two sets of civil proceedings in the Auckland High Court against CBL Corporation Limited (In liquidation) (CBLC), the six directors and the chief financial officer alleging multiple breaches of the Financial Markets Conduct Act 2013 (“FMC Act”). The FMA is seeking declarations of contravention¹ and civil pecuniary penalties in both proceedings.
12. 13 December 2019

    FMA clarifies green bond disclosure requirements

    The Financial Markets Authority (FMA) has published an information sheet outlining when issuers of securities described as “green bonds” can apply the “same class exclusion” to disclosure requirements.
13. 13 December 2019

    FMA releases findings of managed investment scheme (MIS) custody review

    The Financial Markets Authority has published a summary report on a review of custody arrangements in managed investment schemes (MIS) in response to questions raised by the International Monetary Fund (IMF).
14. 5 December 2019

    Peer-to-peer lending and crowdfunding 2019 data published

    The Financial Markets Authority (FMA) published the 3rd statistical report on peer-to-peer lending (P2P) and crowdfunding services in New Zealand. The annual snapshot for the year to 30 June 2019 shows increasing participation in P2P lending services and decreasing participation in crowdfunding services.
15. 29 November 2019

    Council of Financial Regulators sets work priorities for 2020

    The Council of Financial Regulators (CoFR) has announced its work priorities for the coming year. The work programme includes seven separate work streams, each led by one of the CoFR agencies, but involving all the members (alongside other government agencies as necessary) in a coordinated effort to tackle issues that reach across the financial system.