Media releases – 51

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1. Media release

   9 February 2023

   Forestlands’ director, Rowan Kearns, pleads guilty to making false statements and charges related to financial reporting

   The Financial Markets Authority today confirmed that Rowan Kearns, the founder and sole director of the Forestlands group of companies, last week pled guilty to charges in criminal proceedings for disclosure and financial record keeping breaches.
2. Media release

   31 January 2023

   FMA appoints Sharon Thompson to new executive leadership team

   We have appointed Sharon Thompson to our newly formed enterprise leadership team as Executive Director – Transformation and Operational Delivery.
3. Media release

   24 January 2023

   FMA publishes 2022 annual report

   Our 2022 annual report details a year that encompassed four main areas of focus for the regulator: monitoring and oversight of financial market participants; preparations for new financial markets legislation; building investor capability; and enforcement activity.
4. 19 January 2023

   FMA publishes fund manager risk assessment report

   The FMA has published its Managed Investment Schemes (MIS) Sector Risk Assessment, which analyses key risks in the funds management industry at a sector level.
5. 18 January 2023

   FMA appoints Stuart Johnson to new Chief Economist role

   We have appointed Stuart Johnson to the newly created role of Chief Economist. Stuart joins the FMA from London, UK, where he has been Head of Behavioural Economics, Conduct Risk and Customer Experience, at major international banking and insurance firms since 2015.
6. 17 January 2023

   Cigna to pay $3.5 million penalty for making false and misleading representations about customers’ insurance premiums and cover

   Cigna to pay $3.5 million penalty for making false and misleading representations about customers’ insurance premiums.
7. 22 December 2022

   FMA suspends crowdfunding licence of The Property Crowd

   We have suspended the crowdfunding provider licence of The Property Crowd after the entity materially contravened its licensee obligations.
8. 21 December 2022

   NZICA publishes disciplinary outcomes relating to Wynyard audit by PwC

   FMA notes the New Zealand Institute of Chartered Accountants (NZICA) has released its disciplinary decisions arising from the 2015 PwC audit of the formerly NZX-listed Wynyard Group.
9. 21 December 2022

   FMA files court proceedings against Tiger Brokers, alleging AML/CFT Act breaches

   We have filed civil High Court proceedings against Tiger Brokers for allegedly breaching the AML/CFT Act.
10. 15 December 2022

    FMA warns Pencarrow Private Equity Management for AML/CFT record-keeping failures

    We have formally warned Pencarrow Private Equity Management Limited for breaching record-keeping requirements under the AML/CFT Act.
11. 15 December 2022

    ASX 24 derivatives market and SGX-DT reviews released

    FMA has published the findings of its market operator obligations reviews for the Australian Securities Exchange Limited (ASX 24 derivatives market) and Singapore Exchange Derivatives Trading Limited (SGX-DT dairy derivatives market).
12. 14 December 2022

    FMA files market manipulation case against Kok Ding Cheng for trading of Rua shares

    FMA has filed High Court civil proceedings against Kok Ding Cheng, for alleged market manipulation of NZX-listed shares of Rua Bioscience Limited (RUA).
13. 2 December 2022

    FMA releases 2022 CPA Australia and NZICA accredited body reports

    We have published the 2022 accredited body reports for CPA Australia and the New Zealand Institute of Chartered Accountants (NZICA).
14. Media release

    30 November 2022

    FMA progressing CoFI implementation with publication of licensing materials

    The FMA is continuing to progress preparations for the Financial Markets (Conduct of Institutions) Amendment Act 2022 (CoFI), with the release of a suite of materials for financial institutions.
15. 16 November 2022

    FMA finds continuing improvements to audit quality

    FMA releases Audit Quality Monitoring Report for 2021/22, Findings show that audit firms have improved their record keeping.