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1. 29 June 2015

   NZX Obligations Review 2015

   The Financial Markets Conduct Act 2013 (FMC Act) requires the FMA to carry out a review, at least annually, of how well a licensed market operator is meeting the market operator obligations contained in section 314 of the FMC Act, and to publish a written report. This report was published in 2015.

2. 18 October 2021

   Exemption Notice - Christchurch City Holdings Limited Sustainable Bond Offer

   The notice exempts Christchurch City Holdings Limited (CCHL), subject to conditions, from the disclosure, governance, and financial reporting requirements in Parts 3, 4 and 7 of the Financial Markets Conduct Act 2013 (the Act) in relation to offers of ‘sustainable’, ‘sustainability’, ‘green’ ‘social’, or similar bonds (Sustainable Bonds) issued under CCHL’s sustainability framework (Sustainability Framework).

3. 4 April 2023

   Effective disclosure guidance

   This guidance note is for Issuers of securities under the Securities Act 1978 pursuant to the transitional provisions of the Financial Markets Conduct Act 2013. It is also for their directors and advisers. It gives guidance on the approach the Financial Markets Authority (FMA) intends to take in reviewing prospectuses and investment statements for compliance with the law.

4. 2 February 2023

   Reasonable grounds for financial advice about financial products - guidance

   This guidance explains our approach to applying and enforcing Code Standard 3 of the Code of Professional Conduct for Financial Advice Services (the Code), in relation to financial advice about financial products purchased for investment purposes. It is particularly relevant to situations where it is difficult or impractical to access information to support reasonable grounds for financial advice on an investment product.

5. 27 February 2015

   Issuers registers of regulated products and the FMAs discretion under section 224

   This information sheet outlines the requirements relating to issuers’ registers of regulated products under Subpart 4 of Part 4 of the Financial Markets Conduct Act 2013 (FMC Act). It also sets out how the FMA will exercise its discretion to authorise an issuer to decline a request for a copy of a register under section 224 of the FMC Act.

6. 13 December 2019

   MIS custody arrangements thematic review 2019

   For any managed investment scheme it’s important that scheme property – money and investments – is kept safe. The function of looking after scheme property is called custody. Under the Financial Markets Conduct Act 2013 (FMC Act), custody for retail managed investment schemes is the responsibility of the independent licensed supervisor. This separates custody functions from management of the scheme, and provides an additional layer of protection for investors.

7. 1 December 2017

   AML/CFT interpreting ordinary course of business guideline

   This guideline is designed to help clarify the meaning of the phrase “in the ordinary course of business”. The meaning of this phrase is important if your business conducts one (or more) of the activities listed under the definitions of financial institution”, “designated non-financial business or profession”, and “high-value dealer” in the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act).

8. 5 December 2024

   Cyber Security and Operational Systems Resilience

   This information sheet assists market services licensees (excluding benchmark administrators) licensed under Part 6 of the Financial Markets Conduct Act 2013 (FMC Act) to enhance the resilience of their cyber and operational systems. While this information sheet is designed to apply to a broad range of sectors, entities with complex cyber security and operational systems should consider the specific technology requirements and obligations that apply to their sector.

9. 27 January 2021

   Market Operator Obligations Targeted Review NZX

   As a licensed market operator, NZX is required to meet certain general obligations imposed under section 314 of the Financial Markets Conduct Act 2013 (FMC Act). One of those obligations requires NZX to have sufficient technological resources to operate its licensed markets properly. This includes ensuring, to the extent reasonably practicable, the availability, security, capacity and maintenance of its trading platforms, settlement systems, internal market monitoring systems and other related systems.

10. 1 November 2021

    Self assessment tool key outsourcing arrangements

    As a small business, we expect you’ll need to outsource some functions to third parties. It’s important that you protect your reputation and your clients by conducting robust background checks, putting contractual agreements in place, and performing regular reviews to ensure suppliers of key functions are up to the task and can meet your expectations and Financial Advice Provider (FAP) obligations. As a FAP, you remain responsible for any functions that you outsource.

11. 16 July 2021

    Amended Identity Verification Code of Practice 2013

    This code of practice provides a suggested best practice for all reporting entities conducting name and date of birth identity verification on customers (that are natural persons) that have been assessed to be low to medium risk. Identification involves obtaining from the customer a range of information about him or her (“identity information”). Verification involves confirming some of that information against documents, data or information obtained from a reliable and independent source.

12. 21 September 2021

    Review of credit card repayment insurance products

    In our 2019 Life Insurer Conduct and Culture review, we found that “certain products often provided poor value, and consequently poor outcomes for customers, because of limited benefits, and misunderstanding of coverage and eligibility”. We carried out this additional review to gain a better understanding of the suitability of CCRI for consumers. While most providers have withdrawn CCRI products from sale, there are still several hundred thousand existing policies, whose holders may not need or understand the product and are at risk of experiencing poor outcomes if they need to make a claim.

13. 6 May 2020

    FMA XRB Enhanced auditor reporting 2020

    Enhanced auditor reporting is a joint FMA and XRB report that looks at the evolution of trends in key audit matter reporting in the three years since the revised auditor’s report was introduced. Key audit matters are issues that, in the auditor’s view, were of most significance to the audit of a company’s financial statements – for example, a company’s valuation of goodwill or its revenue recognition. KAMs are intended to provide transparency and give users of the financial statements a better understanding of how the audit was conducted and complexities that arose. This is the 2020 report.