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Media releases – 2014

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Apple Fields directors fined on non-filing charges

The two directors of Apple Fields Limited have today been fined $30,000 each at the Christchurch District Court for breaches of the Financial Reporting Act 1993.

FMA secures Asset Preservation Orders over Arena Capital Limited / Blackfort

The FMA confirms that it is undertaking an investigation into Arena Capital Limited (Arena), trading as BlackfortFX (Blackfort). Read more.

FMA removes offshore firms from the Financial Services Provider Register – warnings issued against companies who fail to respond

The Financial Markets Authority (FMA) has confirmed that a number of offshore firms have recently been removed from the Financial Services Provider Register (FSPR). While the Registrar of Companies maintains the FSPR, the FMA has powers to direct the Registrar to remove companies from the FSPR where it is likely that a company is giving a false or misleading impression about the extent to which it is regulated in New Zealand.

Small DIMS providers benefit from reduced reporting requirements

The Financial Markets Authority (FMA) has provided smaller businesses that offer a Discretionary Investment Management Service (DIMS) relief from some financial reporting requirements.

SPI directors fined for breaching financial reporting rules

The two directors of SPI Property Fund Limited have today been fined $25,312 each for breaches of the Financial Reporting Act in the Auckland District Court. Read more.

New findings provide first market snapshot of New Zealand’s financial advisers

FMA has today published results from its first questionnaire of AFAs in New Zealand. The report provides insights into the shape and practices of this sector of the financial advice industry.

New guide to bank capital notes aims to boost consumer understanding

FMA encourages consumers who are considering investing in bank capital notes to read its new guide on this type of investment product.

The FMA completes Memorandum of Understanding with all NZ’s Dispute Resolution Schemes

FMA has recently signed MOUs with the ISO and the BOS. This follows the completion of MOUs with the FDRS and FSCL last year. The FMA and the dispute resolution schemes already enjoy a cooperative relationship and these MOUs formalise and enhance that collaboration.

Better information for investors as new disclosure documents take shape

Information for investors will now be provided in a format that is easier-to-understand and more accessible than before. The way that financial products are made available to the public has been overhauled under the FMC Act. The first New Zealand financial products to be offered under the new regulations have started to appear on the ‘Disclose’ website this month.

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Media releases – 2014

Apple Fields directors fined on non-filing charges

FMA secures Asset Preservation Orders over Arena Capital Limited / Blackfort

FMA removes offshore firms from the Financial Services Provider Register – warnings issued against companies who fail to respond

Small DIMS providers benefit from reduced reporting requirements

SPI directors fined for breaching financial reporting rules

New findings provide first market snapshot of New Zealand’s financial advisers

New guide to bank capital notes aims to boost consumer understanding

The FMA completes Memorandum of Understanding with all NZ’s Dispute Resolution Schemes

Better information for investors as new disclosure documents take shape

New-look FMA website provides improved search and navigation for businesses

FMA warns firm under Anti-Money Laundering and Countering Financing of Terrorism Act

FMA spells out practical approach to supervision responsibilities under new law

FMA welcomes opportunity to review financial advice laws

FMA warns public to be wary of misleading advertising promoting “risk-free, money-back investments”

FMA settlement reached over Westpac rural interest rate swaps