Media releases

Found 27 results. Displaying page 1 of 2

1. 22 December 2021

   Medical Kiwi admits to making false and misleading statements

   Medicinal cannabis company Medical Kiwi Limited has admitted to breaching the fair dealing provisions of the Financial Markets Conduct Act (FMCA). In August 2020, Medical Kiwi launched an offer for shares on equity crowdfunding platform PledgeMe Ltd. The accompanying information memorandum and campaign page contained false and misleading statements in relation to Medical Kiwi’s medicinal cannabis licenses and its contractual arrangements.

   https://fma.cwp.govt.nz/news-and-resources/media-releases/medical-kiwi-admits-false-misleading-statements/

2. 17 December 2021

   FMA warns Squirrel P2P Trustee Limited for historic custodian breaches

   The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has formally warned Squirrel P2P Trustee Limited for failing to carry out certain obligations as a custodian. The entity provides a custodial service for the peer-to-peer lending service of Squirrel Money Limited.

   https://fma.cwp.govt.nz/news-and-resources/media-releases/fma-warns-squirrel-p2p-trustee-limited-for-historic-custodian-breaches/

3. 13 December 2021

   FMA cancels financial advice provider’s transitional licence

   The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has cancelled the financial advice provider (FAP) licence of Wisdom House Investment Partners Limited, after its sole financial adviser engaged in serious misconduct at his previous employer.

   https://fma.cwp.govt.nz/news-and-resources/media-releases/fma-cancels-financial-advice-provider-licence/

4. 9 December 2021

   FMA files civil proceedings against Kiwibank for false or misleading representations over fee waivers

   The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has filed High Court civil proceedings against Kiwibank for making false and/or misleading representations, under the fair dealing provisions of the Financial Markets Conduct Act (FMC Act).

   https://fma.cwp.govt.nz/news-and-resources/media-releases/kiwibank-misleading-representations-over-fee-waivers/

5. 9 December 2021

   AxiCorp licence suspension lifted

   The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has lifted the suspension on the derivatives issuer licence of AxiCorp Financial Services Pty Limited (trading as AxiTrader), effective as of 2 December 2021.

   https://fma.cwp.govt.nz/news-and-resources/media-releases/axicorp-licence-suspension-lifted/

6. 7 December 2021

   AML/CFT risk ratings confirmed for sectors under FMA supervision

   The AML sector risk assessment 2021 report by the Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko - has found that derivatives issuers (DI’s) and cryptocurrency service providers are in the high risk category for meeting anti-money laundering and counter-terrorism financing obligations.

   https://fma.cwp.govt.nz/news-and-resources/media-releases/amlcft-risk-ratings-confirmed-for-sectors-under-fma-supervision/

7. 3 December 2021

   FMA releases CPA Australia and NZICA accredited body reports

   FMA has published its annual accredited body reports for CPA Australia and the New Zealand Institute of Chartered Accountants (NZICA), 2021. Read more in this media release.

   https://fma.cwp.govt.nz/news-and-resources/media-releases/fma-releases-cpa-australia-and-nzica-accredited-body-reports/

8. 25 November 2021

   Change to FMA Executive Committee

   The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko – announced in a media release today that its Director of Capital Markets, Sarah Vrede, had resigned. The FMA’s Director Investment Management, Paul Gregory, had been appointed Acting Director of Capital Markets, effective from 29 November 2021.

   https://fma.cwp.govt.nz/news-and-resources/media-releases/change-to-fma-executive-committee/

9. 17 November 2021

   New self-assessment tools aim to boost success of financial advice providers

   The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has released three new self-assessment tools to help financial advice providers (FAPs) prepare for full licensing.

   https://fma.cwp.govt.nz/news-and-resources/media-releases/financial-advice-providers-full-licensing-tools/

10. 17 November 2021

    FMA publishes implementation approach for climate-related disclosure regime

    The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has published its implementation approach for the Financial Sector (Climate-related Disclosures and Other Matters) Amendment Bill (CRD Bill).

    https://fma.cwp.govt.nz/news-and-resources/media-releases/fma-publishes-implementation-approach-for-climate-related-disclosure-regime/

11. 10 November 2021

    Auditors respond well to challenges presented by COVID-19

    Auditors have responded well to financial reporting challenges presented by the pandemic, according to the Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko Audit Quality Monitoring Report for 2020/21.

    https://fma.cwp.govt.nz/news-and-resources/media-releases/auditors-respond-well-to-challenges-2021/

12. 4 November 2021

    Self-reporting issues to FMA does not provide immunity from litigation

    The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko - has laid its expectations for how firms under its supervision should deal with the regulator when day-to-day interactions evolve in the event of an enforcement process.

    https://fma.cwp.govt.nz/news-and-resources/media-releases/self-reporting-issues-does-not-provide-immunity/

13. 21 October 2021

    New climate-related disclosure regime expands FMA’s responsibilities

    The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko acknowledges the passage of the third reading of the Financial Sector (Climate-related Disclosures and Other Matters) Amendment Bill.

    https://fma.cwp.govt.nz/news-and-resources/media-releases/climate-related-disclosure-fma-responsibilities/

14. 20 October 2021

    FMA sets target dates for FAP full licence applications

    The FMA has set 30 September 2022 as the “target date” by when all transitional financial advice providers should apply for their Class 1 or Class 2 full licences. For Class 3 licence applicants, the target date is 30 June 2022.

    https://fma.cwp.govt.nz/news-and-resources/media-releases/fmtarget-dates-for-fap-full-licence-applications/

15. 14 October 2021

    FMA censures Jarden for derivatives issuer licence breaches by OMF

    The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko – has formally censured Jarden Securities Limited for contraventions by OM Financial Limited (OMF) as a licensed derivatives issuer (DI). OMF co-mingled derivative investor money with its own money, a breach of its DI obligations.

    https://fma.cwp.govt.nz/news-and-resources/media-releases/censures-jarden-derivatives-issuer-licence-breaches/

16. 13 October 2021

    FMA issues guidance on advertising of financial products

    MEDIA RELEASE: The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has issued new guidance on how firms should be advertising financial products. The final guidance, published today, reflects feedback from consultation and sets out three key principles for organisations to consider when advertising financial products or services.

    https://fma.cwp.govt.nz/news-and-resources/media-releases/fma-issues-guidance-on-advertising-of-financial-products/

17. 11 October 2021

    FMA censures Firma NZ for breaches to derivatives issuer licence obligations

    The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko – has censured Firma Foreign Exchange Corporation (NZ) Limited after finding it had materially contravened a number of its obligations as a licensed derivatives issuer (DI).

    https://fma.cwp.govt.nz/news-and-resources/media-releases/censures-firma-nz-breaches/

18. 7 October 2021

    FMA directs Du Val to remove misleading advertising

    The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko – has directed property development and investment company Du Val to remove advertising materials likely to mislead or deceive investors.

    https://fma.cwp.govt.nz/news-and-resources/media-releases/du-val-misleading-advertising/

19. 4 October 2021

    DIY investors encouraged to ‘take a mo’ before giving in to FOMO

    The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko is urging DIY online investors to pause before succumbing to investment FOMO as part of World Investor Week (4-10 October 2021).

    https://fma.cwp.govt.nz/news-and-resources/media-releases/diy-investors-encouraged-to-take-a-mo-before-giving-in-to-fomo/

20. 30 September 2021

    FMA steps up enforcement of anti-money laundering breaches

    The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko – has escalated its enforcement approach to non-compliance with New Zealand’s anti-money laundering and countering financing of terrorism (AML/CFT) rules, according to a new report.

    https://fma.cwp.govt.nz/news-and-resources/media-releases/fma-steps-up-enforcement-of-anti-money-laundering-breaches/