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Media releases – 2010

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Cigna to pay $3.5 million penalty for making false and misleading representations about customers’ insurance premiums and cover

Cigna to pay $3.5 million penalty for making false and misleading representations about customers’ insurance premiums.

FMA suspends crowdfunding licence of The Property Crowd

We have suspended the crowdfunding provider licence of The Property Crowd after the entity materially contravened its licensee obligations.

NZICA publishes disciplinary outcomes relating to Wynyard audit by PwC

FMA notes the New Zealand Institute of Chartered Accountants (NZICA) has released its disciplinary decisions arising from the 2015 PwC audit of the formerly NZX-listed Wynyard Group.

FMA files court proceedings against Tiger Brokers, alleging AML/CFT Act breaches

We have filed civil High Court proceedings against Tiger Brokers for allegedly breaching the AML/CFT Act.

FMA warns Pencarrow Private Equity Management for AML/CFT record-keeping failures

We have formally warned Pencarrow Private Equity Management Limited for breaching record-keeping requirements under the AML/CFT Act.

ASX 24 derivatives market and SGX-DT reviews released

FMA has published the findings of its market operator obligations reviews for the Australian Securities Exchange Limited (ASX 24 derivatives market) and Singapore Exchange Derivatives Trading Limited (SGX-DT dairy derivatives market).

FMA files market manipulation case against Kok Ding Cheng for trading of Rua shares

FMA has filed High Court civil proceedings against Kok Ding Cheng, for alleged market manipulation of NZX-listed shares of Rua Bioscience Limited (RUA).

FMA releases 2022 CPA Australia and NZICA accredited body reports

We have published the 2022 accredited body reports for CPA Australia and the New Zealand Institute of Chartered Accountants (NZICA).

FMA progressing CoFI implementation with publication of licensing materials

The FMA is continuing to progress preparations for the Financial Markets (Conduct of Institutions) Amendment Act 2022 (CoFI), with the release of a suite of materials for financial institutions.

FMA finds continuing improvements to audit quality

FMA releases Audit Quality Monitoring Report for 2021/22, Findings show that audit firms have improved their record keeping.

FMA formally warns wholesale property investment firms after discovering non-compliant practices

FMA has issued seven formal warnings following concerns in the wholesale property investment sector.

FMA warns InvestNow for AML/CFT deficiencies and failures

FMA has issued a formal warning to InvestNow Saving and Investment Service Limited for failing to comply with anti-money laundering requirements.

FMA files proceedings against Vero for allegedly misleading customers about multi-policy discounts

FMA has filed High Court proceedings against Vero Insurance for failing to apply multi-policy discounts, which led to customers being overcharged.

$150 million returned to customers following conduct and culture reviews of banks and insurers

Customer remediation by banks and life insurers following the Conduct and Culture reviews has returned $150 million to customers.

FMA’s KiwiSaver 2022 annual report shows scheme’s resilience

The KiwiSaver Annual Report 2022 shows member balances remained buoyant and fund switching returned to normal levels.

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Media releases – 2010