Page last updated: 09 September 2024

Media releases – 2012

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Forestlands companies placed in liquidation by High Court

The High Court in Nelson has placed Forestlands companies 2-12 and 14-20 into liquidation. Read more.

Helping KiwiSaver members weather investment storms

In preparation for Sorted Money Week 2018 the Financial Markets Authority (FMA) is launching an online quiz to help younger KiwiSaver members understand how to react when investments rise and fall in stormy markets.

KiwiSaver members say dollar fee information is useful

KiwiSaver members say dollar fee information is useful. The vast majority (86%) of KiwiSaver members who saw their fees in dollar amounts in their annual statements this year rated the information as “quite or very useful”, an FMA survey has found.

Decision in the case stated procedure between FMA and the administrators of CBL Corporation Limited

Regarding decision in the case stated procedure between FMA and the administrators of CBL Corporation Limited, the High Court has found that an issuer’s continuous disclosure obligations do not apply during administration. Read more.

FMA sets out its work plan for the year ahead

The FMA has released its annual corporate plan as the conduct and culture of New Zealand’s financial services industry comes under greater scrutiny.

Customers not the focus of replacement business at large insurers

The Financial Markets Authority (FMA) is considering regulatory action against three large financial institutions or qualifying financial entities (QFEs) following a review of insurance replacement business practices.

CBL investigation update

The FMA has completed a preliminary assessment of the information obtained as part of the CBL investigation to date and has concerns about potential breaches of the Financial Markets Conduct Act 2013 and the Companies Act 1993. Read more.

Investors show mixed levels of understanding while confidence in financial markets remains stable

Confidence in New Zealand’s financial markets has remained stable since 2017, despite uncertainty around a potential trade war, volatile global markets and a focus on the culture and conduct of major financial institutions in Australia and New Zealand.

Individual falsely holding himself out as financial adviser sentenced to community work and community detention

Garry James Patterson has been sentenced to 200 hours’ community work and 3 months’ community detention at the Christchurch District Court after pleading guilty to two charges brought by the Financial Markets Authority (FMA).

FMA statement on Blackfort/Arena sentencing

The FMA acknowledges the sentencing today in the Serious Fraud Office’s criminal prosecution of Mr Jimmy McNicholl and Mr Lance Ryan, also known as Lance Jared Thompson. These individuals were prosecuted in relation to a Ponzi scheme in Christchurch that resulted in hundreds of people investing a total of $8.3m.

Annual review of NZX published

NZX generally complied with its obligations during the review period. However, a lack of market experience in its market surveillance function meant NZX did not meet its obligation to have adequate arrangements to monitor the conduct of participants on, or in relation to its markets.

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