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Media releases – 2018

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FMA welcomes opportunity to review financial advice laws

FMA welcomes today’s announcement by the Minister of Commerce and Consumer Affairs, Paul Goldsmith, about the review of legislation governing financial advisers.

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

FMA is warning people to beware of a company offering a risk-free, high-return investment programme.

FMA settlement reached over Westpac rural interest rate swaps

FMA has reached a settlement with Westpac regarding the sale, promotion and marketing of interest rate swaps to some rural customers.

Action against non-filing of financial statements pays off

A new report released today by FMA shows the proportion of companies filing their financial statements on time has improved significantly since the FMA’s initial review in 2014.

FMA and NZX sign Memorandum of Understanding

FMA and NZX have signed a Memorandum of Understanding. The MoU sets out the framework for engagement and co-operation between the FMA and NZX, taking into account their complementary regulatory responsibilities for New Zealand’s capital markets.

FMA warns individual trader over online market manipulation

FMA has issued a warning to an individual online trader in relation to suspected market manipulation trading conduct.

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

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Media releases – 2018