Page last updated: 09 September 2024

Media releases – 51

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Penalty judgment in the case of FMA v Warminger

The High Court imposed a total penalty of $400,000 on Mark Warminger for two contraventions of the Securities Markets Act 1978. Read more.

Further updates for Forestlands investors

As soon as an appropriate distribution method has been established by Forestlands, the FMA will decide whether to consent to the release of funds currently held on trust. Read more.

Annual review of NZX published

Annual review 2017 of whether NZX met its statutory obligations as a licensed market operator.

Forestlands – update for investors

The FMA continues to seek to engage with the sole director of the Forestlands group and his legal representatives to ascertain what steps have been taken to put in place an appropriate process for determining and managing the distribution of the $18 million that is held on trust, accruing interest. Read more.

FADC decision on a financial adviser

The Financial Advisers Disciplinary Committee (FADC) has released its decision into FMA’s complaint against an authorised financial adviser.

FMA seeks feedback on robo-advice exemption

The FMA is seeking feedback on its proposals to allow entities to provide personalised financial advice generated by a computer programme or algorithm (robo-advice). This would be a temporary measure before new legislation is passed by Parliament.

Insider trader sentenced

Jeffrey Peter Honey was sentenced to six months home detention at the Auckland District Court, after pleading guilty to one charge of insider trading under section 243(1)(a) and section 244 Financial Markets Conduct Act. Read more.

FMA files charges under Crimes Act

Robert Ian South and Murray Byron Provan appeared in the Tauranga District Court in relation to various charges filed by the FMA under the Crimes Act. Read more.

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.

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Media releases – 51