Page last updated: 09 September 2024

Media releases – 2011

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FMA censures Opes for breaching financial advice provider licensee obligations  

FMA censures Opes for breaching financial advice provider obligations, citing record-keeping, client understanding, and conflict risks.

Two Kaupapa Māori research papers released to fill gaps in sector data

FMA releases Kaupapa Māori research on Māori consumer experiences and innovative providers in Aotearoa financial markets.

FMA releases thematic review on financial institutions’ product and services reviews

FMA releases thematic review on financial institutions’ product and service reviews to improve consumer outcomes and fair practices.

Tower ordered to pay $7 million penalty for misleading representations

General insurer Tower has been ordered to pay a $7 million penalty for misleading representations that resulted in more than $11 million in overcharges to its customers.

EU allows continued use of New Zealand regulated financial benchmarks

FMA welcomes EU decision recognising NZ financial benchmarks as equivalent ensuring BKBM use in EU from January 2026.

FMA cancels HGL’s financial advice provider licence

FMA cancels Hope Group Limited’s financial advice licence over serious conduct breaches, false applications, and client overcharging.

FMA issues revised educational information sheet on insider trading

FMA releases updated insider trading guidance under FMC Act with risk mitigation strategies for New Zealand market participants.

Former NZ financial adviser pleads guilty to breaching stop order, will be sentenced

David McEwen pleads guilty to breaching FMA stop order on misleading financial offers sentencing set for January 14 2026

FMA publishes annual audit quality monitoring report 

FMA's 2024/25 audit report highlights audit firm performance, PES 3 compliance, climate assurance, and investor confidence.

Tangible differences evident in FMA annual report and Ease of Doing Business survey

FMA's 2025 Annual Report and Ease of Doing Business Survey show improved engagement, enforcement, and regulatory clarity across financial markets.

FMA files market manipulation case for trading of STU shares

FMA files civil case against Franco Belgiorno-Nettis for alleged market manipulation of STU shares on NZX via ASB trading account.

Entities affected by climate reporting changes granted “no action” relief

FMA grants interim no action relief to climate reporting entities ahead of 2026 FMC Act changes removing mandatory reporting obligations.

FMA issues warning to Finbase over serious disclosure and fair dealing breaches

FMA warns Finbase for serious FMC Act breaches, misleading ads, and misuse of wholesale investor exclusions in NZ.

FMA Appoints Dr Philip Stevens as Chief Economist

Dr Philip Stevens appointed Chief Economist at FMA NZ, bringing 25+ years of economic leadership to strengthen regulatory focus.

Pump and dump scam nets Kiwi investors

Pump and dump scam targets Kiwi investors via deepfake ads and fake chat groups, warns FMA during World Investor Week.

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Media releases – 2011