Page last updated: 09 September 2024

Media releases – 2017

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FMA issues infringement notice to Pharmazen Limited

The FMA has issued an infringement notice to Pharmazen Limited for failing to file financial statements on time.

FMA releases Good Cents: Kiwis on savings and debt research

FMA's Good Cents report reveals key insights on Kiwi savings, debt habits, and gaps in financial advice and investment choices.

FMA issues a warning on managed investment scheme

The FMA has issued a public warning about a managed investment scheme operated by Jesse Joseph Vaughan and former NZ company Crypto Partners Limited (CPL).

Update on the Pushpay insider trading appeal

The FMA welcomed the Court of Appeal's decision on the Pushpay insider trading appeal. The defendant was found guilty in August 2023 and sentenced to six months of community detention and a $100,000 fine. The Court of Appeal dismissed the appeals against the conviction and name suppression but increased the fine to $200,000. The case involved the resignation and share sell-down of former Pushpay co-founder Eliot Crowther in June 2018.

Westpac to pay $3.25 million penalty for misleading customers

Westpac is to pay a penalty of $3.25 million for misleading customers entitled to advertised discounts as well as overcharging some of its business customers.

Experienced retail investor found liable for market manipulation

Kok Ding Cheng, an experienced retail investor, has been ordered to pay the Crown a pecuniary penalty of $198,000.

FMA confirms fintech sandbox participants

The FMA has announced the six fintech firms who will be testing their innovative products, services or business models in the FMA’s pilot regulatory sandbox.

Former Heartland Bank accountant sentenced on insider trading charges

Kevin Young, a former treasury accountant with Heartland Bank Limited, has today been sentenced to six months home detention and ordered to pay a fine of $11,241.

FMA files criminal charge against former financial adviser

FMA charges former financial adviser Prem Gounder for dishonestly using a false document, reinforcing trust and accountability in NZ financial markets.

FMA files civil proceedings against IAG for fair dealing breaches

FMA files civil proceedings against IAG for fair dealing breaches, alleging misleading premium pricing and discount failures affecting 269,000+ customers.

FMA unveils review into financial advice accessibility to drive better outcomes for the financial advice sector

The FMA Chief Executive Samantha Barrass today announced a review of the advice sector to help drive better outcomes for industry and consumers.

CoFI regime now in effect 

The Conduct of Financial Institutions (CoFI) regime is now in effect—FMA expects licensed banks, insurers, and lenders to treat NZ consumers fairly and uphold the fair conduct principle.

FMA releases update on Outcomes-Focused Regulation

The FMA has published its updated approach to Outcomes-Focused Regulation (OFR) after considering wide ranging feedback from financial services firms, consumer groups and law firms.

FMA files criminal charges against David McEwen

The FMA has filed criminal charges against former financial adviser David McEwen, for failing to comply with an FMA stop order, due to concerns he is still contacting potential investors.

FMA issues warning to Evco Pacific Limited and its directors for breaching disclosure requirements

FMA warns Evco Pacific and its directors for breaching disclosure laws in a $2.8M share offer, highlighting investor protection under the FMCA.

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Media releases – 2017