Media releases – 10

Information for investors will now be provided in a format that is easier-to-understand and more accessible than before. The way that financial products are made available to the public has been overhauled under the FMC Act. The first New Zealand financial products to be offered under the new regulations have started to appear on the ‘Disclose’ website this month.

FMA has issued a formal warning to MSL Capital Markets Limited - FSP225586 (MSL) under section 80 of the AML/CFT Act.

FMA welcomes today’s announcement by the Minister of Commerce and Consumer Affairs, Paul Goldsmith, about the review of legislation governing financial advisers.

FMA has reached a settlement with Westpac regarding the sale, promotion and marketing of interest rate swaps to some rural customers.

FMA and NZX have signed a Memorandum of Understanding. The MoU sets out the framework for engagement and co-operation between the FMA and NZX, taking into account their complementary regulatory responsibilities for New Zealand’s capital markets.

The FMA has been accepted on to the International Forum of Independent Audit Regulators (IFIAR), in recognition of the robust oversight system the FMA has established in New Zealand.