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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 25 of 25

    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...


    2 September 2010

    Draft Code to Minister for Approval

    (Media releases from the Securities Commission)2 September 2010 The Commissioner for Financial Advisers, David Mayhew has approved the draft Code of Professional Conduct for Authorised Financial Advisers, and sent it to the Minister of Commerce, Hon Simon Power for his approval. Mr Mayhew says approving the draft Code is a significant milestone towards implementing the new regulatory regime. "It is clear that the Code Committee consulted widely when p...


    30 July 2010

    Commissioner for Financial Advisers Receives Draft Code of Professional Conduct

    (Media releases from the Securities Commission)30 July 2010 The Commissioner for Financial Advisers, David Mayhew, today received from the Code Committee the draft code of professional conduct for authorised financial advisers for his approval under the Financial Advisers Act 2008. Mr Mayhew said receiving the draft code was a significant milestone in the implementation of the new regulatory regime governing financial advice to the investing public. "...


    28 July 2010

    Issuers Could Improve Corporate Governance Reporting

    (Media releases from the Securities Commission)28 July 2010 The Securities Commission's latest review of corporate governance reporting shows that while most issuers are doing well, many need to improve their disclosures when it comes to ethical standards, directors and executive's remuneration, risk management, and shareholder and stakeholder relations. "It is important that investors are given high-level assurances that companies have robust corpora...


    25 June 2010

    Financial Advisers Urged to Get Ready for Regulation

    (Media releases from the Securities Commission)25 June 2010 The Commissioner for Financial Advisers, David Mayhew, today urged advisers to get ready for the new regulatory regime. He also updated the Securities Commission's financial adviser implementation timetable. The announcement follows changes made by Parliament to the Financial Advisers Act this week. The Act will be implemented over the next twelve months, coming fully into force after 30 June...


    22 June 2010

    Securities Commission Welcomes Commerce Commission Settlement with ANZ and ING

    The Securities Commission welcomes the settlement that relates to the Commerce Commission's investigation into alleged breaches of the Fair Trading Act 1986 by ANZN and ING and other entities in relation to the marketing, promotion and sale of the ING Diversified Yield Fund and ING Regular Income Fund. Read more.


    14 June 2010

    Investment Adviser and Broker Banned

    (Media releases from the Securities Commission)14 June 2010 Former Timaru-based investment adviser Neville Ian Cant, found guilty of forgery and theft, is banned from operating as an adviser or investment broker for five years. The Securities Commission had received a number of complaints regarding investment schemes established by Mr Cant. He is also banned from acting as an employee or agent of an investment adviser or broker in any way that would a...


    2 June 2010

    Guide for Authorised Financial Advisers Released

    (Media releases from the Securities Commission)2 June 2010 The Securities Commission today released the AFA Adviser Business Statement Guide to help financial advisers prepare for the new regulatory regime. The guide explains the document to be prepared by an adviser applying to become an Authorised Financial Adviser (AFA). Under the Financial Advisers Act a person who provides a financial planning service or gives advice on investment products is req...


    28 May 2010

    Commission Finds Instances Where Investors Entitled to Refunds

    (Media releases from the Securities Commission)28 May 2010 Securities Commission investigations into finance companies have found that many investors are entitled to refunds on their investments. Where individuals and companies have broken the law by offering securities to the public without a registered prospectus, investors are entitled to a refund of their principal plus interest. Investors who did not receive an investment statement before investi...