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    28 November 2013

    FMA announces new Chief Executive

    News release28 November 2013 The Financial Markets Authority (FMA) has appointed Rob Everett as its new Chief Executive, effective 3 February 2014. FMA’s Chairman Simon Allen said he was delighted that Mr Everett would be leading FMA through the next phase, including the rollout of the Financial Markets Conduct Act. “Mr Everett has a wealth of experience in law and compliance having specialised in capital markets and corporate finance. He has worked...


    31 July 2013

    Chair for Financial Adviser Code Committee re-elected

    Media Release31 July 2013 The Code Committee for Authorised Financial Advisers (AFAs) has re-elected David Ireland as Chair for the next 12 months.A partner at Kensington Swan and a member of the Code Committee since it was established in 2009, Mr Ireland will lead the committee as it keeps under review current regulatory and legislative developments and assesses potential impacts on the Code of Professional Conduct for AFAs.“The Committee is about to...


    17 April 2013

    Guilty plea sees another finance company director held to account

    Media Release17 April 2013 Stephen Charles Smith (45), pleaded guilty at the Auckland High Court today to 25 charges arising out of the collapse of Belgrave Finance Limited (Belgrave Finance). The charges were brought in a joint prosecution by the Financial Markets Authority (FMA) and the Serious Fraud Office (SFO).Mr Smith pleaded guilty to 19 Crimes Act charges of theft by person in a special relationship, four charges of false statement by promoter, o...


    23 October 2012

    Time for KiwiSaver members to maximise their retirement savings potential

    Media Release23 October 2012 The Financial Markets Authority says it's time for KiwiSaver members to make sure their investment options best suit their future retirement needs. The comment follows the release of FMA's KiwiSaver Report, which shows membership increased by 14 percent on the previous year. As of 31 March 2012: 1.91 million people were enrolled in KiwiSaver 23.4% of members were in default schemes Funds under management exceed $12.73 billio...


  1. 10 March 2015


    Who needs to comply Anyone offering a KiwiSaver scheme must comply with their obligations under the KiwiSaver Act 2006 (the Act) until they transition to the new regime. KiwiSaver providers must also comply with any obligations they have as issuers. Your on-going obligations KiwiSaver is a key priority area for FMA's monitoring and surveillance (see FMA's Compliance Focus for 2013). Participants involved in KiwiSaver management and oversight must ensure they meet regulatory standards and...


    5 July 2012

    FMA action to recover $25 million in related party loans

    Media Release5 July 2012 FMA can now confirm its continued engagement with Perpetual Trust Limited (Perpetual) to recover $25 million in related party loans made by Perpetual as trustee of the Perpetual Cash Management Fund (Fund). Perpetual is a subsidiary of Pyne Gould Corporation (PGC). In a High Court judgment delivered on 26 June 2012, Justice Heath discharged confidentiality orders originally made at the request of Perpetual in proceedings taken ag...


    29 February 2012

    FMA warns of illegal offer by Makko Securities to advise on Facebook IPO

    Media Release29 February 2012 The Financial Markets Authority is warning the public of an illegal offer by Makko Securities and its Senior Account Manager, Roy Lochen, to provide broking services in relation to the proposed Initial Public Offering of Facebook and other securities. Makko Securities is not registered to provide financial services in New Zealand and therefore cannot legally offer financial advice or broking services to retail investors in N...


    30 September 2011

    Securities Trustees and Statutory Supervisors Act comes into force

    Media Release30 September 2011 From 1 October, 2011 securities trustees and statutory supervisors will be regulated under new rules overseen by the Financial Markets Authority."Trustees and supervisors play an important role in looking after investors' interests, and it is important that they uphold the highest standards of professionalism and integrity in supervising market participants," said Elaine Campbell, FMA Head of Compliance Monitoring.The Secur...


  2. 18 October 2017

    Media releases

    Keep up to date with announcements, statements and media releases on the latest news. For media enquiries please contact: Andrew Park Media Relations Manager Phone: 09 967 1215 Mobile: 021 220 6770 Email: andrew.park@fma.govt.nz To subscribe our alerts and updates click here. Share this Share on Facebook...


    11 July 2011

    FMA issues warnings about unsolicited offers from Share Buyers and Stock & Share

    Media Release11 July 2011 The Financial Markets Authority (FMA) has issued warnings about unsolicited offers that may be made by Share Buyers Limited (Share Buyers) or Australian-based Stock & Share Trading Company Pty Limited (Stock & Share). Share Buyers and people associated with it have requested the share registers for 23 companies with the stated intention of using the registers to make offers to purchase shares from shareholders. Stock &a...


    21 April 2011

    Disciplinary Committee Ready to Conduct Financial Adviser Disciplinary Proceedings

    (Media releases from the Securities Commission)21 April 2011 Departing Commissioner for Financial Advisers, David Mayhew, has completed his final statutory role as Chair of the Financial Advisers Disciplinary Committee chairing its first meeting, where the committee approved its rules and procedures for operation. The Committee was appointed by the Minister of Commerce to conduct disciplinary proceedings arising from complaints about alleged breaches of...


    18 November 2010

    Commission Lays Criminal Charges Against Huljich

    (Media releases from the Securities Commission)18 November 2010 The Securities Commission confirms that it has laid criminal charges against Huljich Wealth Management (New Zealand) Limited and director Peter Huljich. The charges relate to the Huljich KiwiSaver Scheme for which Huljich Wealth Management and Peter Huljich are promoters. The Commission alleges Peter Huljich and Huljich Wealth Management misled prospective investors by misrepresenting the in...


    25 June 2010

    Financial Advisers Urged to Get Ready for Regulation

    (Media releases from the Securities Commission)25 June 2010 The Commissioner for Financial Advisers, David Mayhew, today urged advisers to get ready for the new regulatory regime. He also updated the Securities Commission's financial adviser implementation timetable. The announcement follows changes made by Parliament to the Financial Advisers Act this week. The Act will be implemented over the next twelve months, coming fully into force after 30 June...


  3. 23 May 2016

    Who needs to comply

    The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (The Act) describes those who need to comply as 'reporting entities'. To work out if your business is a reporting entity, refer to section 5 of the Act. Other reporting entities are found in the Anti-Money Laundering and Countering Financing (definitions) Regulations 2011. The reporting entities supervised by the FMA are listed in section 130 of the Act. They include: issuers of securities licensed supervisors  derivative...


    6 August 2014

    Debt capital raising simplified

    Craig Foss6 August, 2014 Commerce Minister Craig Foss today announced further steps to simplify and encourage participation in New Zealand’s capital markets. “Cabinet this week signed off on a number of policy decisions to come into force under the Financial Market Conduct Act on December 1,” Mr Foss says. “The decisions include new disclosure requirements to improve investor literacy, confidence and participation in financial markets. “Disclosure will be standardised, simplified an...


    1 May 2013

    FMA marks two-year milestone

    Craig Foss1 May, 2013Commerce Minister Craig Foss has congratulated the Financial Markets Authority (FMA) on two years of operation.“The FMA was established by the Government in 2011 with a clear mandate to be a visible and proactive enforcement agency operating in the financial sector while facilitating the development of fair, efficient, and transparent financial markets,” says Mr Foss.“Following a spate of financial company failures, the FMA has worked to rebuild investor confidence a...


    18 September 2012

    Progress towards international trade mark treaty

    Craig Foss18 September, 2012Commerce Minister Craig Foss has announced that New Zealand is closer to implementing a major trade mark treaty to help businesses protect their brands overseas.Cabinet has agreed that regulations for the Madrid Protocol will be drafted and are expected to be in force by the end of the year."The Madrid Protocol will make it much easier for Kiwi business owners to register their trade marks in multiple countries."It will give New Zealand entrepreneurs the opportunity...


    5 June 2012

    Government targets predatory share offers

    Craig Foss5 June, 2012 Commerce Minister Craig Foss today welcomed targeted consultation ahead of the introduction of new measures to rein in unsolicited 'predatory' share offers. "Predatory or low ball offers are not only a risk to those they mislead, they also weaken the trust investors have in our capital markets," says Mr Foss. Lowball offers are unsolicited approaches to shareholders offering to buy their shares or other securities. The offer letters put pressure on people to sell their...