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Media releases

Keep up to date with announcements, statements and media releases. Subscribe to our alerts and updates here.

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 500 results. Displaying page 23 of 25

    25 August 2011

    FMA begins adviser monitoring visits

    Media Release25 August 2011 FMA will next week begin making visits to Authorised Financial Advisers (AFAs) as it steps up its monitoring activities under the Financial Advisers Act. FMA Head of Primary Regulatory Operations, Sue Brown said monitoring was an important part of the new professional era, enabling FMA to check that standards are being met. "We expect that in most cases we will simply be helping advisers refine what are already sound practice...


    24 August 2011

    FMA reminds Red Zone homeowners about new advice rules

    Media Release24 August 2011 The Financial Markets Authority is reminding Canterbury residential Red Zone homeowners seeking financial advice about payout offers to check they're dealing with registered professionals. FMA Chief Executive Sean Hughes said many people will be seeking information and advice about how to afford a new property, insurance cover options or options such as investing a payout amount and renting instead. "CERA has already provided...


    16 August 2011

    Nationwide anti-money laundering seminars help businesses prepare for new law

    Media Release16 August 2011 Financial service businesses will be learning about the need to tighten up customer identification processes and look out for suspicious financial transactions in a series of seminars around the country that started in Wellington on Monday. The Financial Markets Authority, Department of Internal Affairs, and the Police Financial Intelligence Unit are running the seminars to help business start preparing for a new Anti-Money La...


    15 August 2011

    FMA orders Share Buyers Limited to include warning

    Media Release15 August 2011 The Financial Markets Authority (FMA) has today ordered Share Buyers Limited (Share Buyers) and associated persons to include a warning from FMA in a prominent position at the beginning of any document making an unsolicited offer to buy shares or other securities. The order requires that: any offer document containing an unsolicited offer from Share Buyers or any associated persons must contain, at the beginning of that offer...


    10 August 2011

    FMA makes three further leadership team appointments; announces Auckland location

    Media Release10 August 2011 The Financial Markets Authority has made three further appointments to its strategic leadership team under Chief Executive Sean Hughes, and announced its new Auckland office premises. FMA has taken a seven-year lease of level 5, East Building, 52-70 Galway Street, Britomart, which has capacity for more than 50 staff. "We are very pleased to have secured such a well-appointed and central CBD office location which has the capaci...


    9 August 2011

    FMA announces appointment and reappointments to Code Committee

    Media Release9 August 2011 The Board of the Financial Markets Authority has appointed Dimity Kingsford-Smith, a Professor of Law at the University of New South Wales, to the Code Committee for Authorised Financial Advisers for a term of three years. FMA CEO Sean Hughes said Professor Kingsford-Smith's experience and expertise would be invaluable to the committee. "I am very pleased Professor Kingsford-Smith has agreed to join the committee," Mr Hughes sa...


    3 August 2011

    FMA completes NZX inquiry

    Media Release3 August 2011 FMA has completed its inquiry into continuous disclosure issues in relation to comments made by Mr Mark Weldon, CEO of NZX Ltd, concerning the carrying value of its subsidiary Clear Grain Exchange. FMA has considered responses from Mr Andrew Harmos, Chairman of NZX, and a NZX market announcement of 18 July 2011 as to the value of Clear Grain Exchange. FMA is now satisfied that NZX is not in breach of its continuous disclosure o...


    22 July 2011

    FMA makes three appointments to strategic leadership team

    Media Release22 July 2011 The Financial Markets Authority has strengthened its strategic leadership team with three appointments to key positions in support of Chief Executive Sean Hughes. Mr Hughes said these first appointments were the result an extensive search in New Zealand and internationally for FMA's seven strategic leadership team roles. He expected to be able to announce further appointments in the coming weeks. The new roles and appointees are...


    21 July 2011

    NZF prospectus withdrawn after FMA investigation

    Media Release21 July 2011 NZF Money Limited (NZF) has withdrawn its 2010 debt prospectus from the market following an investigation by the Financial Markets Authority (FMA). FMA CEO Sean Hughes said that an inspection of the documents and records of NZF, a subsidiary of NZX-listed NZF Group Limited, revealed matters of concern regarding NZF's disclosures of asset quality and liquidity. After discussions between NZF and FMA, NZF agreed on 18 July to withd...


    29 June 2011

    New era of professionalism for financial advisers

    Media Release29 June 2011 From Friday 1 July, financial advisers will be regulated under new rules administered by the Financial Markets Authority (FMA). All advisers must be registered on the Financial Service Providers Register (www.fspr.govt.nz) and if they advise retail clients they must belong to a dispute resolution scheme. Those who advise on investments must also be licensed by FMA and meet minimum qualifications and professional standards. FMA C...


    21 June 2011

    Warning: FMA warns SuperLife in relation to KiwiSaver sales practices

    Media Release21 June 2011 The Financial Markets Authority has issued a warning to SuperLife Limited and SuperLife Trustees Limited (together 'SuperLife') to overhaul its KiwiSaver sales practices. FMA Chief Executive Sean Hughes said FMA was seriously concerned about a number of matters regarding SuperLife's sales practices, potential non-compliance with the law and apparent poor monitoring of the activities of its sales force. "From 1 July, FMA will m...


    20 June 2011

    Statement on Hubbard Investigation

    Media Release20 June 2011 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. However after careful consideration, both organisations are satisfied that the charges laid by the SFO will address this matter in a way that is proportio...


    15 June 2011

    FMA issues interim order against GFNZ Group

    Media Release15 June 2011 The Financial Markets Authority has made an interim order to stop allotment of securities by GFNZ Group Limited (formerly known as Geneva Finance Limited). This is a new power, and the first time FMA has exercised it. FMA has learned that in the March 2011 quarter GFNZ breached its minimum new lending covenant with its primary funder, Bank of Scotland. As a result, Bank of Scotland's facility is repayable on demand. GFNZ is a fi...


    10 June 2011

    FMA welcomes discussion document on funding

    Media Release10 June 2011 The Financial Markets Authority has welcomed the Government's release of a discussion document on third party funding options for financial regulation.Chief Executive Sean Hughes says with budgets now established, the discussion document provides an important opportunity for all market participants to contribute their views on the best options for collection of levies to fund FMA's broadened scope and responsibilities."FMA has a...


    9 June 2011

    FMA warns of unacceptable KiwiSaver sales practices

    Media Release9 June 2011 The Financial Markets Authority is urging investors to be wary of unacceptable sales practices being used in selling some KiwiSaver schemes. After receiving complaints, FMA has taken steps to stop unregistered KiwiSaver sales representative Patrick Diack from engaging in illegal sales activities. Mr Diack has been a sales representative for several KiwiSaver schemes, most recently operating in the lower North Island. Mr Diack's s...


    24 May 2011

    Incomplete Applications Slow AFA Approvals

    Media Release24 May 2011 Up to 700 financial advisers may have to stop giving advice on KiwiSaver, managed funds and other investment products on 1 July because they haven't completed the qualifications needed to be an Authorised Financial Adviser (AFA). From 1 July 2011, financial adviser regulations come into full effect, making it an offence for unlicensed financial advisers to provide retail clients with personalised investment planning services and...


    19 May 2011

    Relief from Disclosure of Changes to KiwiSaver

    Media Release19 May 2011 Changes to KiwiSaver in today's Budget Bill may be material to decisions about whether to invest in a KiwiSaver scheme. The Budget Bill includes a transitional provision for securities law disclosure that means KiwiSaver providers can keep their schemes open and have a reasonable period to amend their offer documents. In the meantime FMA expects KiwiSaver providers to take all practicable steps to ensure potential investors are f...