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Media releases – 2017

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FMA report: Lessons learned from Barry Kloogh Ponzi

The FMA published a report on the findings of its inquiries following the Barry Kloogh fraud. These inquiries focused on the services provided to Kloogh by third party market participants.

FMA publishes final Climate Related Disclosures regime record keeping guidance

Media release from the FMA announcing release of final guidance for Climate Reporting Entities (CREs) on meeting their record keeping obligations.

FMA consults on proposed liquidity risk management guidance

FMA has released proposed guidance for Managed Investment Scheme (MIS) managers and their supervisors for effective liquidity risk management (LRM).

New Zealand and UK audit authorities agree mutual recognition of audit qualifications

New Zealand and the UK have signed a Memorandum of Understanding on Reciprocal Arrangements (MOURA) to recognise audit qualifications in both the UK and NZ so that auditors can more easily work between both countries.

KiwiSaver holds firm through volatility and reaches $94BN in March 2023

The FMA’s latest KiwiSaver Annual report for the year to 31 March shows that KiwiSaver has held firm through a continuing period of market volatility. Total funds in KiwiSaver have grown again this year, by $4 billion, due to contributions of $10.5bn from members, employers, and government.

Yuen Pok (Paul) Loo pleads guilty to forgery and financial markets legislation offences

The FMA can confirm that Yuen Pok (Paul) Loo has pleaded guilty to several criminal charges at the Manukau District Court on Friday.

RBNZ and FMA Governance Thematic Review outlines good practices and areas for improvement

A cross-sector thematic review of regulated entities’ governance practices by the Reserve Bank of New Zealand (RBNZ) and the Financial Markets Authority (FMA) has highlighted the need for boards to be focused on continuous improvement to ensure future success.

FMA acknowledges guilty verdict in Pushpay insider trading case

FMA acknowledges today’s guilty verdict in the criminal trial of an individual accused of insider conduct in relation to the sale of shares in Pushpay Holdings Limited.

Advisory: Financial Services Council conference speech by Clare Bolingford

FMA, Executive Director for Regulatory Delivery, Clare Bolingford spoke to the Financial Services Council annual conference today, on the theme of building consumer confidence.

FMA issues warning to Enprise Group Limited

The Financial Markets Authority (FMA) – has issued Enprise Group Limited (Enprise) a warning for failing to keep proper accounting records.

Financial Market Infrastructures Standards issued

Standards for designated Financial Market Infrastructures (FMIs) have been issued by the Reserve Bank of New Zealand (RBNZ) and the Financial Markets Authority (FMA), following two rounds of public consultation.

CoFI licensing begins

From today the FMA will begin accepting licensing applications for financial institution licences under the Conduct of Financial Institutions (CoFI) regime.

Forestlands sole director, Rowan Kearns, sentenced for making false statements and financial reporting offences

Rowan Kearns, the founder and sole director of the Forestlands group of companies, was sentenced yesterday to four months’ community detention and 100 hours’ community work with a 9pm – 7am curfew. The sentence follows a prosecution brought by the FMA filed in the Nelson District Court in September 2020.

Highest penalties to date for market manipulation ordered for Oceania Natural Limited defendants

The penalty hearing for the first and second defendants in the Oceania Natural Limited (ONL) proceeding brought by the FMA was heard at the Auckland High Court last Thursday, 13 July.

FMA publishes scenario analysis information sheet for Climate Related Disclosures regime

The FMA has today released its scenario analysis information sheet to help climate reporting entities (CREs) meet their obligations under the Climate-Related Disclosures (CRD) regime.

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Media releases – 2017