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  1. 12 November 2018

    Know the scam warning signs: Bob’s story highlights the tactics scammers use

    Bob is a consultant who lives in Christchurch. He’s invested in shares for many years, owns his own home, and is in KiwiSaver. Recently, Bob lost $67,000 through a ‘boiler room’ share scam after an overseas company called him, offering him the chance to invest in a pharmaceutical firm.
    Tags
    Consumer, Scams
    Type
    Page

  3. 21 July 2023

    Forestlands sole director, Rowan Kearns, sentenced for making false statements and financial reporting offences

    Rowan Kearns, the founder and sole director of the Forestlands group of companies, was sentenced yesterday to four months’ community detention and 100 hours’ community work with a 9pm – 7am curfew. The sentence follows a prosecution brought by the FMA filed in the Nelson District Court in September 2020.
    Tags
    Media release, Cases, Enforceable Undertaking, Powers, News & Insights, Enforcement
    Type
    Page

  4. 12 July 2023

    FMA releases standard condition for consultation to improve operational and cyber resilience

    FMA has released a consultation document on its proposal to introduce a new standard condition for certain financial market licence holders.
    Tags
    Media release, Crowdfunding providers, Derivative Issuer, Discretionary investment management scheme (DIMS), Roles, Business, Managed investment schemes, News & Insights, Peer-to-peer lending service providers
    Type
    Page

  5. 25 July 2023

    CoFI licensing begins

    From today the FMA will begin accepting licensing applications for financial institution licences under the Conduct of Financial Institutions (CoFI) regime.
    Tags
    Media release, Banking, Licence, Insurance Providers, Conduct of Financial Institutions Bill (CoFI), Financial Institutions, Licensing & registration, Business, News & Insights
    Type
    Page

  6. 2 August 2023

    Designations

    Under the FMC Act, we have powers to make designations that change the way products and other matters are regulated. Read more about designations and view current individual and class designations provided on this page.
    Tags
    Designations, Business
    Type
    Page

  8. 1 September 2011

    Identity verification - Code of Practice

    Customers of financial institutions and casinos can expect more stringent identity checks in the lead up to 30 June 2013 when anti-money laundering legislation comes fully into force. Businesses now have access to guidance on the standard those identity checks should meet.
    Tags
    Media release, News & Insights
    Type
    Page

  10. 15 March 2021

    Audit quality – A director’s guide

    Audit quality – A director’s guide is aimed at directors of FMC reporting entities. It sets out how you, as a director can contribute to the audit quality of your audit, as well as what you can expect from the FMA and your auditor.
    Tags
    Directors, FMC Act, Roles, Legislation, Business
    Type
    Page

  12. 19 July 2022

    Fraud case study: Close call in Starlink IPO share scam

    This fraud case study documents the story of someone we call Sarah (not her real name) to report an odd encounter she had with a company claiming to help her get shares in Starlink – the global satellite-based internet venture founded by Tesla and SpaceX’s Elon Musk.
    Tags
    Scams
    Type
    Page

  13. 11 August 2023

    FMA issues warning to Enprise Group Limited

    The Financial Markets Authority (FMA) – has issued Enprise Group Limited (Enprise) a warning for failing to keep proper accounting records.
    Tags
    Media release, Powers, Formal warning, News & Insights, Enforcement
    Type
    Page