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Media releases – 2019

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Trial shows simple way to help KiwiSaver members

KiwiSaver members who received communications created using behavioural insights were more likely to choose to move out of default funds, and less likely to transfer to another provider.

FMA announces methodology for KiwiSaver fee disclosure

The Government has recently introduced regulations requiring KiwiSaver providers to disclose fees in dollars in members’ annual statements. The Financial Markets Authority (FMA) has been consulting on a methodology that will assist KiwiSaver providers to understand the requirements of those regulations.

Innovative Securities fails to overturn FSPR ruling

The High Court has dismissed an appeal by Innovative Securities Limited against the FMA decision to de-register the company from the FSPR. Read more.

FMA survey: Investor confidence bounces back

Major disruptions in world events over the last year have not dented New Zealanders’ confidence in financial markets. The FMA today released its annual survey into the public’s attitude to financial markets. The survey shows that confidence has risen significantly to 65% among all respondents, from 56% in 2016.

RBNZ and FMA welcome new foreign exchange market Global Code of Conduct

The Reserve Bank of New Zealand and Financial Markets Authority have welcomed the release of a new code to promote good practice in the international foreign exchange market.

Licensing overview: what the FMA found and what firms need to know

Common issues, hints for new applicants and a guide to the Financial Markets Authority’s (FMA) future focus are included in a review of the regulator’s first two and a half years of licensing.

Former financial adviser pleads guilty to four charges under Crimes Act

Anthony Wilson, a former Registered Financial Adviser pleaded guilty at the Auckland District Court to two charges of making a false document for pecuniary advantage. The charges were filed by the Financial Markets Authority (FMA) under the Crimes Act. Read more.

Changes for investment companies offering shares to protect investors

Investors will benefit from greater protection due to a change in the way the Financial Markets Authority (FMA) will treat certain companies offering shares.

Media Statement on NZX updated code of corporate governance

The FMA welcomes the publication of NZX’s updated Corporate Governance Code.

IMF NZ FSAP Assessment 2017

The FMA welcomes the publication of the International Monetary Fund’s Financial System Stability Assessment (FSSA) for New Zealand.

KiwiSaver trial to target decision-making a decade out from retirement

The FMA is working with ANZ to see if behavioural insights can prompt more ANZ KiwiSaver members to get retirement advice, or use retirement-planning tools when they hit 56 years old.

Forestlands – update for investors

FMA had ongoing inquiries into the Forestlands companies. We have referred some matters to the Serious Fraud Office. We will continue to complete our inquiries in relation to financial markets issues. Read more.

Consultation on KiwiSaver fees methodology

KiwiSaver members will be able to see the dollar cost of the fees they are paying in their annual statements next year. The Ministry of Business and Innovation and Employment (MBiE) is currently amending the Financial Markets Conduct Regulations so that individual members’ total fees must be disclosed in annual statements in dollar values, from March 2018.

Guilty plea in insider trading case

An individual today pleaded guilty at the Auckland District Court to one charge of insider trading under section 243 Financial Markets Conduct Act - namely, being an information insider advising or encouraging another person to trade. Read more.

Wise-up about retirement now, so you can relax and enjoy it later

The FMA commissioned Colmar Brunton to survey New Zealanders aged between 60 and 74 years, to find out their experiences of retirement and how information or advice has helped them manage their retirement savings.

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Media releases – 2019