Media releases

Found 454 results. Displaying page 1 of 23

1. 19 August 2019

   Steven Robertson convicted on 38 charges relating to PTT Limited and associated entities

   The Financial Markets Authority (FMA) has welcomed the Auckland High Court convicting Steven Robertson of 38 charges relating to PTT Limited and associated entities.

   https://www.fma.govt.nz/news-and-resources/media-releases/steven-robertson-convicted/

2. 16 August 2019

   FMA Statement on Court of Appeal judgment in Viaduct Capital and Mutual Finance

   The FMA notes the judgment from the Court of Appeal, setting aside of some of the convictions, and the associated reduction of a sentence, in relation to Mr Paul Bublitz and Mr Bruce McKay.

   https://www.fma.govt.nz/news-and-resources/media-releases/judgment-viaduct-capital-and-mutual-finance/

3. 14 August 2019

   New vision for Council of Financial Regulators

   The Council of Financial Regulators (CoFR) has announced a new vision for New Zealand’s economic wellbeing and has welcomed the addition of the Commerce Commission to the forum.

   https://www.fma.govt.nz/news-and-resources/media-releases/cofr-new-vision/

4. 9 August 2019

   21 charges filed by FMA against man who convinced members of the public to ‘invest’ with him

   The Financial Markets Authority has charged a man who convinced members of the public to ‘invest’ with him with offences under the Crimes Act and the FMA Act at the Manukau District Court.

   https://www.fma.govt.nz/news-and-resources/media-releases/21-charges-filed/

5. 6 August 2019

   Westpac refunding $7 million to affected customers for incorrect fees

   The Financial Markets Authority (FMA) and Commerce Commission have formally agreed with Westpac the steps the bank must take to refund fees to some 93,000 customers being overcharged $7 million.

   https://www.fma.govt.nz/news-and-resources/media-releases/westpac-refunding-7-mil/

6. 1 August 2019

   FMA suspends AxiCorp derivatives licence

   The Financial Markets Authority (FMA) has suspended the derivatives issuer licence of AxiCorp Financial Services Pty Limited (trading as AxiTrader) for material breaches of the Financial Markets Conduct Act 2013. Read more.

   https://www.fma.govt.nz/news-and-resources/media-releases/fma-suspends-axicorp-derivatives-licence/

7. 26 July 2019

   New Zealand launches ‘investment passport’

   Kiwi investors and managed funds will now be able to do business more easily with Australia, Japan and Thailand, after New Zealand’s implementation of the Asia Region Funds Passport (ARFP).

   https://www.fma.govt.nz/news-and-resources/media-releases/new-zealand-launches-investment-passport/

8. 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.

   https://www.fma.govt.nz/news-and-resources/media-releases/date-for-transitional-licensing/

9. 24 July 2019

   Investor confidence stable and improving over time

   Confidence in New Zealand’s financial markets has remained stable over the past two years, despite volatile global markets and a focus on the culture and conduct of major financial institutions in Australia and New Zealand.

   https://www.fma.govt.nz/news-and-resources/media-releases/investor-confidence-stable-and-improving-over-time/

10. 23 July 2019

    FMA issues Stop Order against Syndicated Trusts Limited

    The Financial Markets Authority (FMA) has issued a Stop Order against Syndicated Trusts Limited (STL), ordering the company to stop advertising or accepting money for financial products.

    https://www.fma.govt.nz/news-and-resources/media-releases/fma-issues-stop-order-against-syndicated-trusts-limited/

11. 23 July 2019

    FMA sets out key focus areas for the year ahead

    The FMA published its Annual Corporate Plan (ACP), which outlines its work plan for the next financial year and sets objectives for raising standards of behaviour across financial services.

    https://www.fma.govt.nz/news-and-resources/media-releases/fma-sets-out-key-focus-areas-for-the-year-ahead/

12. 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.

    https://www.fma.govt.nz/news-and-resources/media-releases/fma-comments-on-ross-asset-management-investor-proceedings/

13. 11 July 2019

    Warning: MBI International/MFC Club

    The FMA has issued a further warning to investors about a Malaysian-based loyalty scheme, MBI International, also trading as MFC Club (MFC Club).

    https://www.fma.govt.nz/news-and-resources/media-releases/warning-mbi-internationalmfc-club/

14. 27 June 2019

    FMA annual review of NZX published

    The Financial Markets Authority (FMA) has published its annual review of whether NZX met its statutory obligations as a licensed market operator.

    https://www.fma.govt.nz/news-and-resources/media-releases/fma-nzx-review-2019/

15. 24 June 2019

    Banks commit to removing sales incentives for frontline staff

    FMA Chief Executive Rob Everett and Reserve Bank Governor Adrian Orr said all banks had now committed to remove sales incentives for frontline staff and their managers. Read more.

    https://www.fma.govt.nz/news-and-resources/media-releases/banks-commit-to-removing-sales-incentives-for-frontline-staff/

16. 21 June 2019

    FMA's fifth statistical report on AFAs in NZ

    The Financial Markets Authority’s annual snapshot of Authorised Financial Advisers shows 140 advisers became AFAs in the year to the end of June 2018. That’s the highest number of new AFAs in the three years the FMA has broken down advisers being authorised and those whose authorisation lapses.

    https://www.fma.govt.nz/news-and-resources/media-releases/2018-nz-afas/

17. 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.

    https://www.fma.govt.nz/news-and-resources/media-releases/movie-or-kiwisaver/

18. 6 June 2019

    Morgan DeVere fined $40,000 in first FMA case of company abuse of the FSPR

    Morgan DeVere Corporate Finance Limited (Morgan DeVere) has been fined $40,000 following its conviction at the Wellington District Court on two charges of breaching the Financial Services Providers (Registration and Dispute Resolution) Act 2008 (FSP Act). Read more.

    https://www.fma.govt.nz/news-and-resources/media-releases/morgan-devere-fined/

19. 21 May 2019

    FMA research highlights gap between what investors expect and what auditors deliver

    An FMA research project with investors, directors, managers and auditors has identified reasonable levels of confidence in audit quality, but also a serious gap in the expectations of investors and what auditors are delivering. The FMA commissioned the research to better understand public and industry perceptions of audit quality in New Zealand.

    https://www.fma.govt.nz/news-and-resources/media-releases/fma-audit-perceptions-research/

20. 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.

    https://www.fma.govt.nz/news-and-resources/media-releases/10-formal-amlcft-warnings-issued-by-fma/