Page last updated: 09 September 2024

Media releases – 204

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FMA removes offshore firms from the Financial Services Provider Register – warnings issued against companies who fail to respond

The Financial Markets Authority (FMA) has confirmed that a number of offshore firms have recently been removed from the Financial Services Provider Register (FSPR). While the Registrar of Companies maintains the FSPR, the FMA has powers to direct the Registrar to remove companies from the FSPR where it is likely that a company is giving a false or misleading impression about the extent to which it is regulated in New Zealand.

Small DIMS providers benefit from reduced reporting requirements

The Financial Markets Authority (FMA) has provided smaller businesses that offer a Discretionary Investment Management Service (DIMS) relief from some financial reporting requirements.

SPI directors fined for breaching financial reporting rules

The two directors of SPI Property Fund Limited have today been fined $25,312 each for breaches of the Financial Reporting Act in the Auckland District Court. Read more.

New findings provide first market snapshot of New Zealand’s financial advisers

FMA has today published results from its first questionnaire of AFAs in New Zealand. The report provides insights into the shape and practices of this sector of the financial advice industry.

New guide to bank capital notes aims to boost consumer understanding

FMA encourages consumers who are considering investing in bank capital notes to read its new guide on this type of investment product.

The FMA completes Memorandum of Understanding with all NZ’s Dispute Resolution Schemes

FMA has recently signed MOUs with the ISO and the BOS. This follows the completion of MOUs with the FDRS and FSCL last year. The FMA and the dispute resolution schemes already enjoy a cooperative relationship and these MOUs formalise and enhance that collaboration.

Better information for investors as new disclosure documents take shape

Information for investors will now be provided in a format that is easier-to-understand and more accessible than before. The way that financial products are made available to the public has been overhauled under the FMC Act. The first New Zealand financial products to be offered under the new regulations have started to appear on the ‘Disclose’ website this month.

New-look FMA website provides improved search and navigation for businesses

FMA has launched a refreshed website, making it easier for regulated businesses to quickly find the information they need.

FMA warns firm under Anti-Money Laundering and Countering Financing of Terrorism Act

FMA has issued a formal warning to MSL Capital Markets Limited - FSP225586 (MSL) under section 80 of the AML/CFT Act.

FMA spells out practical approach to supervision responsibilities under new law

FMA has spelt out its practical approach to its supervision responsibilities, as the financial services and markets regulator increases the emphasis on supervision under the newly-effective FMC Act 2013.

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.

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Media releases – 204