Media releases – 51

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1. Media release

   12 June 2023

   FMA reaches agreement with CBL Corporation and four independent directors on continuous disclosure breaches

   FMA has reached agreement with CBL Corporation Limited (In Liquidation) (CBLC) and four of its former directors in respect of the FMA's claims of continuous disclosure breaches and misleading conduct.
2. Media release

   8 June 2023

   FMA files proceedings against AA Insurance for alleged fair dealing breaches

   FMA has filed civil proceedings against AA Insurance Limited (AAI) for failing to apply multi policy and membership discounts, as well as guaranteed no claims bonuses to eligible customers’ premiums,
3. Media release

   1 June 2023

   FMA files proceedings against Medical Assurance Society over fair dealing provision breaches

   FMA has filed High Court proceedings against Medical Assurance Society New Zealand Limited (MAS) and its subsidiaries for fair dealing breaches under section 22 of the Financial Markets Conduct Act 2013 (FMC Act).
4. Media release

   23 May 2023

   FMA files criminal charges against Yuen Pok (Paul) Loo

   FMA has filed criminal charges against Yuen Pok (Paul) Loo following offences under financial markets legislation.
5. 10 May 2023

   FMA censures Aurora Financial Group Limited for misleading clients

   FMA has censured Aurora Financial Group Limited (Aurora Financial) for misleading existing and potential clients about KiwiSaver returns.
6. Media release

   1 May 2023

   FMA letter to NZ registered banks: Treating consumers fairly – creating the right incentives

   Letter sent from by the FMA to Chief Executives of New Zealand registered banks in April 2023.
7. Media release

   12 April 2023

   Two individuals found to have breached market manipulation prohibitions and disclosure obligations

   Media release announcing High Court judgment in relation to FMA vs Wei (Walker) Zhong and Lei (Regina) Ding market manipulation of Oceania Natural Limited (ONL) shares trading.
8. Media release

   29 March 2023

   FMA issues formal warning to Vanguard

   We have issued a formal warning to Vanguard Investments Australia Limited (Vanguard), for failing to lodge a required notice on the New Zealand Companies Office Disclose Register.
9. Media release

   17 March 2023

   Financial advice regulatory regime - now in full effect

   Financial advice regulatory regime now in full effect and all financial advice providers (FAPs) must hold or operate under a full licence from the FMA if they want to provide regulated financial advice to retail clients.
10. Media release

    17 March 2023

    FMA appoints three new Directors within regulatory leadership team

    FMA announces three directors appointed to new roles in the strategic leadership cohort.
11. Media release

    13 March 2023

    FMA appoints Daniel Trinder to new executive leadership team

    The FMA confirmed the appointment of Daniel Trinder, to join its enterprise leadership team as Executive Director – Strategy and Design.
12. News & Insights

    10 March 2023

    FMA warns Du Val Capital Partners Limited over misleading or deceptive statements to investors in the Du Val Mortgage Fund

    The FMA has warned Du Val Capital Partners Limited (DVCP), the general partner of the Du Val Mortgage Fund Limited Partnership (Du Val Mortgage Fund, MFLP, the Fund) and Du Val Group.
13. Media release

    20 February 2023

    The FMA opens consultation on draft guidance for the intermediated distribution of financial products

    FMA is seeking consultation feedback on proposed guidance that covers arrangements where financial institutions distribute products and services through intermediaries.
14. Media release

    15 February 2023

    FMA finalises regulatory return questionnaire for licensed Financial Advice Providers

    Following consultation on the proposed standard licence conditions for all classes of Financial Advice Providers (FAPs), the Financial Markets Authority (FMA) confirmed the information FAPs must provide in their regulatory returns.
15. Media release

    15 February 2023

    FMA issues interim stop order to Validus and its associated persons

    The Financial Markets Authority has issued an Interim Stop Order (Order) to Validus and Associates (registered in Delaware, USA) pursuant to section 465 of the Financial Markets Conduct Act 2013 (the Act).