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  1. 23 April 2024

    Managed investment scheme manager

    A Managed Investment Scheme (MIS) pools money from a number of investors who rely on the investment expertise of the MIS manager. These schemes can be structured in different ways and may invest in a wide range of investments. On this page you will find the licensing and registration and compliance obligations of a MIS manager. You will also find a list of KiwiSaver exempt employers.
    Tags
    Compliance, Obligations, Licensing & registration, Roles, Business, Managed investment schemes
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  2. 22 July 2021

    New Zealand insurers – you’ve got a lot of work to do

    FMA Director of Banking and Insurance, Clare Bolingford talks about new conduct licensing regime that aims to improve fair treatment for customers.
    Tags
    FMA stories, Financial Advice Provider, Banking, Roles, Insurance Providers, Business, News & Insights
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  4. 18 July 2018

    Customers not the focus of replacement business at large insurers

    The Financial Markets Authority (FMA) is considering regulatory action against three large financial institutions or qualifying financial entities (QFEs) following a review of insurance replacement business practices.
    Tags
    Insurance, Media release, Consumer, News & Insights
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  5. 25 September 2019

    FMA welcomes Government announcement on expanded remit

    The FMA (Financial Markets Authority) welcomed the Government’s announcement that it would introduce legislation to create an oversight regime for regulating conduct in the banking and insurance sectors.
    Tags
    Governance, Media release, FMA, News & Insights
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  6. 5 June 2020

    ANZ Bank New Zealand Limited

    Details of three cases taken by the FMA against ANZ including false and misleading representations over credit card insurance charges alleged contraventions of the Fair Trading Act 1986 by ANZ in relation to the marketing, promotion and sale of interest rate swaps to rural customers from 2005 to 2009 and ANZ Bank New Zealand Ltd challenge of FMA's decision to disclose to third parties, documents the FMA has obtained from ANZ through the exercise of its statutory powers.
    Tags
    Enforceable action, Court – civil, Misleading statement, Powers, Enforcement
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  7. 23 May 2019

    Superannuation products

    Superannuation schemes are managed fund investments. When you save via a superannuation scheme, your money is pooled with other New Zealander’s in your scheme and is spread across different kinds of investments. Some schemes offer additional benefits such as life or disability insurance. If you’re considering joining a workplace savings scheme instead of KiwiSaver, make sure you compare the benefits first.
    Tags
    KiwiSaver & Superannuation, Consumer
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  8. 14 June 2024

    Conduct of Financial Institutions (CoFI) legislation

    The Financial Markets (Conduct of Institutions) Amendment Act 2022 amends the Financial Markets Conduct Act 2013 to ensure certain financial institutions treat consumers fairly. CoFI is designed to protect consumers by putting the consumer at the forefront of institutions’ decisions and actions. Read more about the CoFI legislation on this page.
    Tags
    Banking, Conduct, Legislation, Insurance Providers, Conduct of Financial Institutions Bill (CoFI), Financial Institutions, Roles, Business
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  9. 19 June 2024

    FMA and XRB issue user guides to help users of climate statements

    The Financial Markets Authority (FMA) and the External Reporting Board (XRB) – have jointly produced a set of guides designed to help people understand the Climate-related Disclosures (CRD) regime
    Tags
    Media release, Ethical investing, Business, Consumer, News & Insights
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  12. 15 July 2016

    Archer Capital (Pty) Limited (Archer) and Healthcare Industry Limited (HIL)

    FMA initiated civil proceedings against Archer Capital (Pty) Limited and Healthcare Industry Limited (HIL) for alleged breaches of the substantial shareholder disclosure obligations contained in the Securities Markets Act 1988, in relation to shares in Abano Healthcare Group Limited (Abano). Read more.
    Tags
    Court – civil, Powers, Enforcement
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  13. 5 December 2022

    How to identify a product disclosure statement (PDS) or prospectus scam

    FMA has issued this article about how to identify and avoid PDS or prospectus scams as a result of an increase in fake investment documents targeting New Zealand investors.
    Tags
    Investor information, Suspected scam, Article, Consumer, News & Insights, Scams
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  14. 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
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  15. 13 December 2021

    APEX Group DBG

    APEX Group DBG including: Apex Advice Group Ltd, Apex Insurance Brokers Ltd, Apex Waikato Ltd, Apex Christchurch Limited, and Apex Risk Management Limited.
    Tags
    AML/CFT, Roles, Designated Business Group (DBG), Business
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