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Media releases – 2010

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FMA opens consultation on standard conditions for financial institution licences

Consultation paper on proposed standard conditions for licences granted under the Financial Markets (Conduct of Institutions) Amendment Act 2022.

FMA censures derivatives issuer Western Union Business Solutions (Australia) Pty Ltd for licence breaches

FMA has censured Western Union Business Solutions (Australia) Pty Ltd for materially contravening key Standard Conditions of its licence.

FMA appoints Margot Gatland to Head of Enforcement

FMA has confirmed the appointment of Margot Gatland as its new Head of Enforcement. Ms Gatland was previously the Acting Head of Enforcement at the FMA.

High Court dismisses Du Val appeal against FMA direction order

A High Court ruling upheld an FMA direction order against property development and investment company Du Val, dismissing grounds for appeal.

Culture shift for financial services as Conduct of Financial Institutions Bill passes

The Financial Markets (Conduct of Institutions) Amendment Bill, has been passed in Parliament.

FMA publishes NZX obligations annual review 2022

Key findings of the Financial Markets Authority’s (FMA) - Te Mana Tātai Hokohoko annual NZX Market Operator Obligations Review, which reports on how well NZX is meeting the requirements for its market operator licence. The most recent report covers the period 1 January to 31 December 2021.

Cyber security must be a priority for financial sector, FMA says

The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has published an information sheet to help financial services firms enhance the resilience of their technology and operational systems, and meet any relevant licence obligations.

FMA publishes Auditor Regulation and Oversight Plan 2022-2025

The Auditor Regulation and Oversight Plan 2022-2025 plan sets out how the FMA aims to improve the audit quality of Financial Markets Conduct reporting entities.

New Zealand investor confidence dips back to pre-COVID levels

Confidence in New Zealand’s financial markets has slipped back in the past 12 months, after last year’s record score, but overall, two-thirds of investors remain confident.

OnePath and Cigna admit to fair dealing breaches for credit card repayment insurance

OnePath Life (NZ) Limited and Cigna Life Insurance New Zealand Limited will jointly pay $180,000 to the FMA after admitting liability for breaching the fair dealing provisions of the Financial Markets Conduct Act 2013 (FMCA).

FMA releases record keeping information sheet for financial advice providers

The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has published an information sheet for financial advice providers (FAPs) about how they can demonstrate compliance with record keeping obligations.

Fund managers’ inconsistent performance measurement and cost of fees reduces benefits to investors

The managers of New Zealand managed investment schemes (MIS or KiwiSaver/fund managers) are showing repeatable performance, relative to appropriate market indices. However, the benefits of their skill to investors in some funds is reduced by fees, and the costs of commission paid by managers to third parties.

FMA issues stop order against The One Management GP Limited

The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has today confirmed it has made a stop order against The One Management GP Limited regarding an offer in relation to The One Property LP¹ (the Fund), which is only available to wholesale investors, including eligible investors.

FMA issues new infringement notice against crowdfunding platform Equitise

The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has issued another infringement notice to Equitise Pty Ltd for failing to file financial statements on time, amid broader concerns about the firm’s ability to meet regulatory reporting deadlines.

FMA issues interim stop order to The One in Longhorn Partnership Fund

The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has today issued an interim stop order to The One Management GP Limited and James Law Realty regarding an offer in relation to The One in Longhorn Partnership Fund (‘the Fund’), which is only open to wholesale investors, including eligible investors.

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Media releases – 2010