Firma Foreign Exchange Corporation (NZ) Limited

Firma Foreign Exchange Corporation (NZ) Limited was censured after finding it had materially contravened a number of its obligations as a licensed derivatives issuer (DI).  

Auckland-based Firma NZ provides foreign currency exchange forward contracts to retail clients in New Zealand. It has been licensed as a DI since 2015 and is a fully owned subsidiary of Firma Foreign Exchange Corporation, based in Canada.  

October 2021 - The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko – has censured Firma Foreign Exchange Corporation (NZ) Limited after finding it had materially contravened a number of its obligations as a licensed derivatives issuer (DI). 

• Related media release: FMA censures Firma NZ for breaches to derivatives issuer licence obligations.