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Media releases – 2011

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FMA issues formal warning for market manipulation

The Financial Markets Authority (FMA) has issued a formal warning to an individual for conduct that was likely to have amounted to market manipulation.

Rise in scams impersonating NZ businesses during COVID-19

From 1 April to 5 November 2020, the FMA issued 61 warnings about investment scams, of which 21 (or 34%) were impostor scams, where the names and details of legitimate businesses are unlawfully used by scammers to trick investors, such as fake websites or social media accounts. By comparison, in the same timeframe during 2019, the FMA issued 40 warnings and only four (10%) were impostor scams. Read the media release.

FMA seeks feedback on industry guidance for advertising financial products

The Financial Markets Authority (FMA) has opened consultation on proposed guidance about advertisements for financial products.

FMA monitoring shows steady improvement in quality of listed company audits

The Financial Markets Authority released its Audit Quality Monitoring Report for 2020. Audit quality has continued to improve, with the overall number of issues discovered by the FMA reducing over time.

FMA releases standard conditions for licensing of financial advice

The Financial Markets Authority (FMA) has released the final standard conditions for a full Financial Advice Provider licence and confirmed three classes of financial advice service, following an extensive consultation with the industry.

FMA appoints specialist roles in FinTech and Integrated Financial System

FinTech entrepreneur Binu Paul has been appointed as Specialist Lead, FinTech reporting to Director of Regulation Liam Mason, while Fiona Whyte, who has a banking and regulation background, has been appointed as Specialist Lead, Integrated Financial System and reports to Sarah Vrede, Director of Capital Markets.

FMA appoints KPMG Restructuring Services as temporary manager following removal of Fund Managers Otago

The FMA has appointed a temporary manager to manage three schemes previously operated by Fund Managers Otago Limited (FMO). The schemes’ supervisor, Trustees Executors Limited, determined it was in the best interests of investors to remove FMO as manager of those schemes.

FMA opens consultation on guidance for KiwiSaver fees

The FMA’s guidance sets out the regulatory approach to the requirement that KiwiSaver fees not be unreasonable.

World Investor Week focus on beginners after steep rise in direct investment

The Financial Markets Authority is using World Investor Week 2020 to remind thousands of Kiwi investors to do their homework and understand the risks of investing in financial markets after a steep rise in direct investment.

Contributions help KiwiSaver continue to grow through COVID-19

KiwiSaver has continued to grow despite market volatility and economic uncertainty caused by COVID-19 , according to the Financial Markets Authority’s (FMA) KiwiSaver Annual Report for the year ended March 2020.

FMA reports on monitoring of financial services firms and advisers

A report on the FMA's supervision activities over the past 18 months says large parts of the financial services sector are working hard to meet the FMA’s expectations, but called for further and more widespread improvements to governance and compliance.

FMA prevents CLSA Premium NZ Limited (formerly KVB Kunlun) from offering derivatives to retail investors

The Financial Markets Authority (FMA) has imposed conditions on the derivatives issuer licence of CLSA Premium New Zealand Limited (CLSAP NZ, formerly KVB Kunlun) that prevent the firm from making an offer to or receiving further funds from, retail investors in relation to derivatives.

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