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Media releases – 2019

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FMA censures Jarden for derivatives issuer licence breaches by OMF

FMA has formally censured Jarden Securities Limited for contraventions by OM Financial Limited (OMF) as a licensed derivatives issuer (DI).

FMA issues guidance on advertising of financial products

The Financial Markets Authority (FMA) issues guidance on how firms should be advertising financial products. Read the media release.

FMA censures Firma NZ for breaches to derivatives issuer licence obligations

The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko – has censured Firma Foreign Exchange Corporation (NZ) Limited after finding it had materially contravened a number of its obligations as a licensed derivatives issuer (DI).

FMA directs Du Val to remove misleading advertising

The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko – has directed property development and investment company Du Val to remove advertising materials likely to mislead or deceive investors.

DIY investors encouraged to ‘take a mo’ before giving in to FOMO

The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko is urging DIY online investors to pause before succumbing to investment FOMO as part of World Investor Week (4-10 October).

FMA steps up enforcement of anti-money laundering breaches

The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko – has escalated its enforcement approach to non-compliance with New Zealand’s anti-money laundering and countering financing of terrorism (AML/CFT) rules, according to a new report.

FMA appoints Karen Chang as Acting General Counsel

The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko – has appointed its current Head of Enforcement, Karen Chang, as Acting General Counsel until the FMA’s new Chief Executive joins next year.

Momentum builds in KiwiSaver as scheme reaches $81 billion

The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – has released its KiwiSaver Annual Report based on providers’ statistics for the year ended March 2021, which shows total funds under management reached $81.6 billion, or double the $40.8 billion held in 2017.

Credit card repayment insurance a poor value product, customers urged to check policies

The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko - is urging an estimated 200,000 New Zealanders who have credit card repayment insurance (CCRI) to check if they still need the product, after a review found it to be poor value.

FMA sees spike in investment scam complaints, issues more warnings, since start of COVID-19

The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko – is warning New Zealanders to be on the lookout for three unique types of scams that have been on the rise since the start of COVID-19.

CLSAP (formerly KVB Kunlun) ordered to pay $770,000 for anti-money laundering breaches

CLSA Premium New Zealand Limited (CLSAP NZ) has been ordered to pay a total pecuniary penalty of $770,000 for breaches of the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act, following proceedings brought by the Financial Markets Authority – Te Mana Tātai Hokohoko (FMA).

FMA announces new Chief Executive

The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko – has announced the appointment of experienced international regulator Samantha Barrass as its new Chief Executive.

FMA issues warning to Sharesies for AML/CFT breaches

The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko – has issued a formal warning to Sharesies Limited and Sharesies Nominee Limited for failing to have sufficient anti-money laundering procedures, policies, and controls in place.

FMA accuses CEO of market manipulation for anonymous posts on investor forum

The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko – has filed civil High Court proceedings against Matthew Geoffrey Hill, the Chief Executive Officer of NZX-listed New Talisman Gold Mines Limited (NTL), for alleged information-based market manipulation and making false and misleading representations. The case relates to anonymous posts Mr Hill made about the company on the Sharetrader website’s online investor forum.

Online investing platforms transform attitudes to investing

Eight out of 10 New Zealand investors have a more favourable view of investing and financial markets after using online investing platforms, according to research released today by the Financial Markets Authority - Te Mana Tātai Hokohoko.

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Media releases – 2019