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Media releases – 2021

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Letter sent to life insurers by the FMA and Reserve Bank of New Zealand

Regulators' letter to Life Insurers following the Australian Royal Commission enquiry into misconduct in banking, superannuation and other financial services.

Market cleanliness summer scholarship study published

The Financial Markets Authority (FMA) and NZX Regulation (NZXR) today published a study carried out by Victoria University student Anna Hensen, ‘New Zealand Equity Market Cleanliness for the years 2010-2016’.

FMA campaign to connect young women with KiwiSaver

The FMA has developed a KiwiSaver health checker tool to help people answer four important questions about their account.

CBL Update

The FMA intends to file a case stated procedure to seek the court’s determination on whether continuous disclosure obligations for listed issuers continue to apply when the issuer is in voluntary administration. Read more.

Insurers spend $34 million on soft commissions

FMA report details how nine life and health insurance companies spent $34 million on non-financial incentives like trips, business support and conferences for financial advisers over a two-year period.

Second company and director charged over FSPR abuse

Second company and director charged over FSPR abuse. The company is charged with two counts of breaching section 12 of the FSP Act.

FMA releases fourth AFA information report

FMA published statistical report on Authorised Financial Advisers (AFAs) in New Zealand for 2017. The FMA requires AFAs to submit an annual information return each year.

KiwiSaver trial focused on members in their 50s gets results

The interim results of a second FMA, MBIE and industry trial has shown targeted communications created using behavioural insights, are more likely to lead KiwiSaver members to make an active decision about their fund.

Letter sent to banks by the FMA/Reserve Bank of New Zealand

The FMA and the RBNZ have sent the letter below to the chief executives of New Zealand’s licensed banks and the NZBA.

FMA applies to court to liquidate Forestlands companies

The FMA has applied to the High Court to place the Forestlands companies numbered 2-20 into liquidation. Read more.

FMA review of fund managers’ quarterly fund updates

FMA published the findings of a review of quarterly fund updates which looked at whether fund managers are meeting their legal requirements to produce updates that are both easy to find and easy to read for investors.

Consultation opens on dual language disclosure documents

The FMA is seeking submissions on its proposal to enable companies offering investments to publish product disclosure statements (PDS) in both te reo Māori and English.

Formal warning: Crafters & Co Limited

The FMA has issued a formal warning to Crafters & Co Limited and its director, Hadleigh Petherick.

KiwiSaver fees to be shown in dollar figures for first time

KiwiSaver customers are about to see the fees they pay their fund managers in dollar figures for the first time, and could be in for a shock.

FMA publishes review of adviser conduct in life insurance

The FMA has issued warnings to four registered financial advisers in relation to providing advice on replacement insurance policies, for breaches of the obligation in section 33 of the Financial Advisers Act 2008 to exercise care, diligence and skill.

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Media releases – 2021