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Media releases – 2013

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FMA welcomed onto global forum for independent auditor oversight

The FMA has been accepted on to the International Forum of Independent Audit Regulators (IFIAR), in recognition of the robust oversight system the FMA has established in New Zealand.

FMA warns: beware of misleading advertising promoting UK pension scheme transfers

The FMA has been monitoring promotional materials and advertisements that encourage people to transfer their UK pension scheme entitlements, and has requested that certain materials be removed from publication.

FMA closes South Canterbury Finance Limited inquiries

FMA has closed its inquiries into potential civil claims relating to South Canterbury Finance Limited (SCF). After careful consideration, the FMA has decided not to take any further action. Read more.

FMA publishes its first medium-term strategic risk outlook

FMA published its seven-point strategic risk outlook, identifying the areas where it will apply the majority of its regulatory effort in the medium-term. The priorities will direct the FMA’s work in licensing, supervision, compliance and enforcement.

FMA releases Audit Quality Review Report

Media release relating to the launch of the FMA Audit Quality Review report 2014

FMA reaches settlement with ANZ over rural interest rate swaps

The Financial Markets Authority said it has reached a settlement with ANZ Bank New Zealand Limited regarding the sale, promotion and marketing of rural interest rate swaps to rural customers. Read more.

Phase two of financial markets law completes long-term overhaul

The second phase of New Zealand’s new capital markets and financial services law takes effect from 1 December. Phase two includes licensing provisions that extend to several hundred further businesses, and a major shift in the quality of investor disclosure for financial products.

The FMA reports on its 12 month performance

The Financial Markets Authority (FMA) has published its 2014 annual report for the year ended 30 June 2014. During this period the FMA began implementing the largest statutory change in financial services in 30 years. Engaging with the industry to implement the Financial Markets Conduct Act 2013(FMC Act) was one of six major achievements outlined in the report, as the FMA continued to deliver its ongoing regulatory responsibilities.

Three new members for Financial Advisers Code Committee

Media release relating to new members for the Financial Adivers Code Committee

Directors of SPI companies agree to enforceable undertakings

Murray Rex Alcock and Allister Ronald Knight (the Directors), of the various entities comprising the SPI group of companies (including SPI Property Fund Limited), have provided enforceable undertakings to the FMA. Read more.

FMA releases updated corporate governance handbook for feedback

The Financial Markets Authority (FMA) has published a revised version of its handbook on corporate governance for consultation.

New regulations approved to deliver a new era in financial markets

FMA has published a revised version of its handbook on corporate governance for consultation.

FMA focus on improving conduct and increasing trust in financial markets

The Financial Markets Authority (FMA) Chief Executive Rob Everett has set out the evolving approach for the FMA as the regulator’s mandate expands under the Financial Markets Conduct Act, taking effect from 1 December.

FMA warns consumers about cold-calling investment offers and ‘big win’ scams

The Financial Markets Authority (FMA) is warning New Zealand consumers and investors to be wary of cold-calls asking them to buy shares or put their money into offshore firms.

New Zealanders underestimate investment risk and prefer lower risk investment options

Research conducted for the Financial Markets Authority shows Kiwis are switched-on about straightforward, low-risk investment options. But when responding to questions about investments with more risk, people are far less confident.

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Media releases – 2013