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  1. 19 June 2020

    FMA publishes Auditor Regulation and Oversight Plan

    The plan sets out the areas the FMA will focus on as part of its role in reviewing the quality of Financial Markets Conduct Act audits, and contributing to the integrity and development of the audit profession.
    Tags
    Media release, Auditors, Roles, Business, News & Insights
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  2. 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.
    Tags
    Cases, Media release, News & Insights, Enforcement
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  3. 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.
    Tags
    Media release, Governance, FMA, News & Insights
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  4. 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.
    Tags
    FMC Act, Offer information, Legislation, Media release, Business, News & Insights
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    Page

  6. 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.
    Tags
    Media release, Crowdfunding providers, Roles, Business, News & Insights, Peer-to-peer lending service providers
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  7. 13 May 2019

    10 formal AML/CFT warnings issued by FMA

    The Financial Markets Authority (FMA) has issued formal warnings to 10 reporting entities under Section 80 of the Anti-Money Laundering and Countering Financing of Terrorism Act (AML/CFT Act). Read more.
    Tags
    AML/CFT, Media release, Roles, Formal warning, AML/CFT formal warning, Powers, Business, News & Insights, Enforcement
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  8. 4 September 2019

    FMA cancels Barry Kloogh’s financial adviser authorisation

    The Financial Markets Authority (FMA) has cancelled the authorisation of Dunedin-based Mr Barry Edward Kloogh to act as a financial adviser, as a result of concerns regarding compliance with his broker obligations under the Financial Advisers Act 2008.
    Tags
    Financial advice, Compliance, Media release, Business, Consumer, News & Insights, Enforcement
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    Page

  9. 22 August 2019

    FMA finding on ANZ related party transaction

    The FMA said it has completed its inquiry into disclosure by ANZ of the sale of the property at 269 St Heliers Bay Road by Arawata Assets Limited to Deborah Veronica Walsh (the wife of former CEO, David Hisco) and has determined that ANZ New Zealand Group should have disclosed this as a related party transaction in its 2017 financial statements.
    Tags
    Cases, Media release, News & Insights, Enforcement
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  11. 12 July 2019

    FMA comments on Ross Asset Management investor proceedings

    The Financial Markets Authority (FMA) said today’s filing of proceedings on behalf of eligible investors in Ross Asset Management marked the end of a long battle to enable the FMA to engage with investors so they could determine whether to bring a claim against ANZ.
    Tags
    Cases, Media release, News & Insights, Enforcement
    Type
    Page

  12. 10 June 2019

    Kiwis take longer to choose a movie than check KiwiSaver

    A recent survey of 1100 New Zealanders for the Financial Markets Authority (FMA) found four out of five people took up to 10 minutes to choose a movie, but just over half of those questioned spent the same time reading their KiwiSaver annual statement. Read more.
    Tags
    Media release, KiwiSaver & Superannuation, Consumer, News & Insights
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  13. 12 March 2019

    Expiry dates on all Financial Markets Conduct Act licences to be removed

    The Financial Markets Authority (FMA) is to remove the expiry dates for all licences issued under the Financial Markets Conduct Act 2013 in a process expected to be complete by the middle of 2019. Read more here.
    Tags
    FMC Act, Media release, Legislation, Business, News & Insights
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  14. 25 July 2019

    FMA confirms date for transitional licensing applications

    The Financial Markets Authority (FMA) today announced it will start accepting transitional licence applications from 4 November 2019. Anyone providing financial advice to retail clients from June 2020 (the start of the new regime) will need to operate under a Financial Advice Provider Transitional Licence. Advisers can either get their own licence or work on behalf of someone else who holds a licence.
    Tags
    New Financial Advice regime, Media release, Business, News & Insights
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  15. 1 April 2019

    AML/CFT monitoring report highlights concerns, sets out future focus

    The Financial Markets Authority (FMA) has published an Anti-Money Laundering and Countering the financing of terrorism (AML/CFT) monitoring report setting out the areas requiring further attention by the management and boards of the reporting entities it supervises. Read more.
    Tags
    AML/CFT, Roles, Media release, Business, News & Insights
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