Media releases – 2019

We have released survey into consumers’ experience of providers’ conduct. The survey found that New Zealanders are relatively satisfied with their financial providers, with consumers feeling they are treated fairly (70%), and with respect (72%).

FMA has published the findings of its investigation into Wynyard Group Limited’s (Wynyard) compliance with continuous disclosure and fair dealing obligations.

The FMA's Audit Quality Report 2018 expresses concern at the continued inconsistencies in audits provided by the same firm, while noting the overall quality of audits has improved in recent years.

The Financial Markets Authority (FMA) published Bank Incentive Structures, its thematic review of how banks in New Zealand incentivise their staff. The report sits alongside the recently published joint FMA/Reserve Bank of New Zealand Conduct and Culture review of New Zealand’s banks.

FMA continues to liaise with the Reserve Bank of New Zealand and Serious Fraud Office, the voluntary administrator of CBL, the liquidator of CBL insurance as well as overseas regulators.

FMA has granted a class exemption to enable companies who offer investments to publish product disclosure statements (PDS) in both te reo Māori and English (dual-language PDS).

The FMA has decided not to seek costs arising from its application to put the Forestlands companies 2-12 and 14-20 into liquidation.