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Media releases

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For media enquiries, please contact:

Andrew Park
Media Relations Manager
Phone: 09 967 1215
Mobile: 021 220 6770
Email: Andrew.Park@fma.govt.nz
Campbell Gibson
Senior Adviser, Media Relations
Phone: 09 967 1232
Mobile: 021 945 323
Email: Campbell.Gibson@fma.govt.nz

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Found 474 results. Displaying page 23 of 24

    29 March 2011

    Commission Releases Risk Assessment for Sector

    (Media releases from the Securities Commission)29 March 2011 The Securities Commission today released a risk assessment to help those it is responsible for supervising prepare to meet upcoming requirements of the Anti-Money Laundering and Countering the Financing of Terrorism Act 2009. Under the legislation, due to come fully into force in 2013, the Commission will supervise issuers of securities, sharebrokers, financial advisers, trustee corporations, c...


    14 March 2011

    First QFEs Granted

    (Media releases from the Securities Commission)14 March 2011 The first Qualifying Financial Entities (QFEs) licences have been granted today signalling the next step in the implementation of the new financial advisers regulatory regime. Securities Commission Director of Financial Adviser Regulation, Mel Hewitson, says the Commission has been processing applications from around 80 organisations and the majority of licences will be granted by 1 April. Appl...


    22 December 2010

    New Conditions for Qualifying Financial Entities

    (Media releases from the Securities Commission)22 December 2010 The Securities Commission has published the standard conditions Qualifying Financial Entities (QFEs) will need to abide by when their employees and representatives give financial advice. As the new regulatory regime for financial advisers takes effect over the next six months many entities will become QFEs, including large institutions such as banks and insurance companies. "Under the new re...


    21 December 2010

    Review Highlights Need for Better Valuation Disclosure (Dec-2010)

    (Media releases from the Securities Commission)21 December 2010 Securities issuers need to include more information on how their financial assets and liabilities have been valued, says Securities Commission Chairman Jane Diplock. Ms Diplock was commenting on findings from the latest review in the Commission's ongoing financial reporting surveillance programme, which aims to improve the credibility of financial reports and which looked closely at disclosu...


    3 December 2010

    Commission Releases Information on Finance Company Investigations

    (Media releases from the Securities Commission)3 December 2010 The Securities Commission today released information about the status of its investigations into 50 failed finance companies. It has completed 26 finance company investigations and is continuing with 24. Criminal charges have been laid against 35 directors or officers of 14 finance companies. The charges have been laid by the Commission or, following referral by the Commission, by the Nationa...


    1 December 2010

    Financial Advisers Regulatory Regime Comes Into Force

    (Media releases from the Securities Commission)1 December 2010 The new regulatory regime for financial advisers begins today, with the first Authorised Financial Advisers receiving their certificates of authorisation at a ceremony in Auckland from Commissioner for Financial Advisers, David Mayhew. The regulatory regime will be phased in between today and 1 July 2011. David Mayhew congratulated the new Authorised Financial Advisers (AFAs) for their commit...


    18 November 2010

    Commission Lays Criminal Charges Against Huljich

    (Media releases from the Securities Commission)18 November 2010 The Securities Commission confirms that it has laid criminal charges against Huljich Wealth Management (New Zealand) Limited and director Peter Huljich. The charges relate to the Huljich KiwiSaver Scheme for which Huljich Wealth Management and Peter Huljich are promoters. The Commission alleges Peter Huljich and Huljich Wealth Management misled prospective investors by misrepresenting the in...


    16 November 2010

    Commission's Review Highlights Continuing Need for Greater Transparency

    (Media releases from the Securities Commission)16 November 2010 The Securities Commission's latest review of financial reporting standards continues to highlight the need for a greater focus on transparency. "Ensuring stakeholders and investors are fully informed about all areas of their investment is vital, and issuers must ensure they provide clear, concise and transparent financial statements which are easily understood," says Securities Commission...


    28 October 2010

    Adviser Regulation Ready To 'Go-Live' On 1 December

    (Media releases from the Securities Commission)28 October 2010 The Commissioner for Financial Advisers has taken the last formal step required for the introduction of the new financial advisers regulatory regime, with publication in the Gazette that 1 December 2010 will be the date on which the Code of Professional Conduct for Authorised Financial Advisers (AFAs) comes into effect. The Code of Conduct contains the minimum standards of competence, know...


    21 October 2010

    Review Highlights Need for Better Valuation Disclosure (Oct-2010)

    (Media releases from the Securities Commission)21 October 2010 The Securities Commission invites submissions on proposed disclosure obligations to be included in standard conditions for businesses granted Qualifying Financial Entity (QFE) status under the Financial Advisers Act. The Act requires disclosure so that retail customers can make informed decisions about whether to use an adviser or follow the advice received. Disclosure requirements for QFE...


    28 September 2010

    Commission Consults on Standard Conditions for QFEs

    (Media releases from the Securities Commission)28 September 2010 The Securities Commission invites submissions on proposed standard conditions for financial adviser businesses that apply for Qualifying Financial Entity (QFE) status. This follows the Commission's consultation early this month on the licence conditions for Authorised Financial Advisers. QFE status is available to entities that satisfy the Commission that they have the capacity to take r...


    9 September 2010

    Commission Consults on Standard Conditions for Advisers

    (Media releases from the Securities Commission)9 September 2010 The Securities Commission invites submissions on proposed standard conditions for Authorised Financial Advisers (http://www.seccom.govt.nz/publications/documents/afa-conditions-consult/) (AFAs). The Financial Adviser's Act allows the Securities Commission to authorise financial advisers for a specific range of services for a specified period. All AFAs will be subject to terms and conditio...


    6 September 2010

    Updated Guide for Financial Entities

    (Media releases from the Securities Commission)6 September 2010 The Securities Commission today released an updated edition of its QFE Adviser Business Statement Guide reflecting changes to the Financial Advisers Act. The guide explains how to prepare an Adviser Business Statement, which is a prerequisite for any business that chooses to apply for status as a Qualifying Financial Entity (QFE) in the new regulatory regime. The guide has new content on...


    3 September 2010

    New Designated Settlement System

    (Media releases from the Securities Commission)3 September 2010 The Reserve Bank of New Zealand and the Securities Commission today announced that the newly established NZCDC Settlement System has been declared a designated settlement system under Part 5C of the Reserve Bank of New Zealand Act. The Reserve Bank and Securities Commission are joint regulators of designated settlement systems. The NZCDC Settlement System is operated by New Zealand Cleari...