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29 August 2013

David Ross pleads guilty

Wellington financial adviser David Robert Gilmour Ross (63) today pleaded guilty in the Wellington District Court to charges laid by the SFO and the FMA. Read more.

Tags

Media release, News & Insights, Enforcement

Type

Page
8 June 2015

$10m settlement on Dominion Finance secured by FMA and liquidators and receivers

The FMA together with the liquidators of Dominion Finance Group (DFG) and the receivers of North South Finance (NSF), reached a settlement pursuant to which $10.235m will be paid to liquidators and receivers for distribution in the receivership. Read more.

Tags

Media release, Cases, News & Insights, Enforcement

Type

Page
19 November 2015

Financial Markets Conduct Regulations amended

While the Financial Markets Conduct Regulations 2014 (FMC Regulations) covered the detail necessary for the Financial Markets Conduct Act 2013 (FMC Act) to come into force on 1 December 2014, the size and complexity of the reforms meant the Government needed to defer some non-urgent matters.

Tags

Regulation updates, FMC Act, Legislation, Business

Type

Page
27 June 2017

Forestlands – update for investors

The FMA continues to seek to engage with the sole director of the Forestlands group and his legal representatives to ascertain what steps have been taken to put in place an appropriate process for determining and managing the distribution of the $18 million that is held on trust, accruing interest. Read more.

Tags

Media release, Cases, News & Insights, Enforcement

Type

Page
15 October 2021

The Financial Markets Conduct (Overseas Banks Offering Simple Debt Products) Exemption Notice 2021

The Financial Markets Conduct (Overseas Banks Offering Simple Debt Products) Exemption Notice 2021 provides applies to banks that are licensed, registered, or otherwise authorised to carry on banking business in certain overseas jurisdictions that have been determined by the FMA to have regulatory oversight standards that are broadly equivalent to those that apply in New Zealand and that have signed the International Organization of Securities Commissions Multilateral Memorandum of Understanding.

Tags

Exemptions, Secondary legislation, Business

Type

Page
12 March 2021

www.canztrades.com

The FMA has received a report that investors are unable to withdraw funds invested. The website is making claims regarding their financial products and/or services that appear to be unsubstantiated and/or false and misleading.

Tags

Imposter website, Suspected scam, Consumer, Scams

Type

Page
7 February 2017

OptionsXO

Warning issued by the Australian Securities and Investment Commission against conducting business with OptionsXO

Tags

International regulator alerts, Scams

Type

Page
20 June 2011

Statement on Hubbard Investigation

The Financial Markets Authority (FMA) and the Serious Fraud Office (SFO) have worked together closely throughout this investigation. The evidence on which the charges laid by the SFO today are based could also give rise to charges by FMA under section 59 of the Securities Act.

Tags

Media release, Cases, News & Insights, Enforcement

Type

Page
1 December 2016

The end of the beginning for the new regime in financial services

A decade in the making, today marks the beginning of a new era in the regulation of New Zealand’s financial markets. The introduction of a stronger regime overseeing financial markets, based on the good conduct of providers, has been in train since before the establishment of the Capital Markets Development Taskforce in 2008.

Tags

New Financial Advice regime, Media release, Business, News & Insights

Type

Page
15 November 2019

Crests Financial

We have received a complaint from a New Zealand resident who invested with Crests Financial, who are withholding the release of any funds. Crests Financial is not licensed or registered to provide financial services in New Zealand. We are concerned that they may be operating a scam.

Tags

Suspected scam, Scams

Type

Page
30 January 2013

Guilty plea in Capital + Merchant Finance case

Capital + Merchant Finance director, Owen Francis Tallentire, has pleaded guilty to three charges laid by the Financial Markets Authority under the Securities Act 1978. Read more.

Tags

Media release, News & Insights, Enforcement

Type

Page
13 April 2010

Civil Proceedings Served on Lombard Finance & Investments Directors

The Securities Commission has issued civil proceedings under the Securities Act against Lombard Finance & Investments directors Sir Douglas Graham, Michael Reeves, William Jeffries and Lawrence Bryant. Read more.

Tags

Media release, Cases, News & Insights, Enforcement

Type

Page
22 October 2019

Financial Markets Conduct Act (Masthead Joint Venture) Exemption Notice 2014

This notice, which comes into force on 1 December 2014 and is revoked on 30 November 2019, exempts certain trustees from regulation 139 of the Financial Markets Conduct Regulations 2014 to the extent that the regulation requires event disclosures given by those trustees to have attached a full copy of the joint venture agreement that constitutes the Masthead Joint Venture. - expired

Tags

Exemptions, Secondary legislation, Business

Type

Page
18 September 2015

Third guilty plea entered in OPI Pacific Finance case

A former director of OPI Pacific Finance, Craig Robert White, has pleaded guilty to misleading investors in a prosecution taken by the FMA. Read more.

Tags

Media release, Cases, News & Insights, Enforcement

Type

Page
4 October 2021

Avan Investment

We are concerned that Avan Investment is involved in a scam. There are false and misleading claims on its website that Avan Investment is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and is authorised and regulated by the Financial Conduct Authority (FCA). We do not believe these statements are true.

Tags

Suspected scam, Consumer, Scams

Type

Page