Media releases

Found 446 results. Displaying page 1 of 23

1. 23 July 2019

   FMA issues Stop Order against Syndicated Trusts Limited

   The Financial Markets Authority (FMA) has issued a Stop Order against Syndicated Trusts Limited (STL), ordering the company to stop advertising or accepting money for financial products.

   https://fma.cwp.govt.nz/news-and-resources/media-releases/fma-issues-stop-order-against-syndicated-trusts-limited/

2. 23 July 2019

   FMA sets out key focus areas for the year ahead

   The FMA published its Annual Corporate Plan (ACP), which outlines its work plan for the next financial year and sets objectives for raising standards of behaviour across financial services.

   https://fma.cwp.govt.nz/news-and-resources/media-releases/fma-sets-out-key-focus-areas-for-the-year-ahead/

3. 12 July 2019

   FMA comments on Ross Asset Management investor proceedings

   The Financial Markets Authority (FMA) said today’s filing of proceedings on behalf of eligible investors in Ross Asset Management marked the end of a long battle to enable the FMA to engage with investors so they could determine whether to bring a claim against ANZ.

   https://fma.cwp.govt.nz/news-and-resources/media-releases/fma-comments-on-ross-asset-management-investor-proceedings/

4. 11 July 2019

   Warning: MBI International/MFC Club

   The FMA has issued a further warning to investors about a Malaysian-based loyalty scheme, MBI International, also trading as MFC Club (MFC Club).

   https://fma.cwp.govt.nz/news-and-resources/media-releases/warning-mbi-internationalmfc-club/

5. 27 June 2019

   FMA annual review of NZX published

   The Financial Markets Authority (FMA) has published its annual review of whether NZX met its statutory obligations as a licensed market operator.

   https://fma.cwp.govt.nz/news-and-resources/media-releases/fma-nzx-review-2019/

6. 24 June 2019

   Banks commit to removing sales incentives for frontline staff

   FMA Chief Executive Rob Everett and Reserve Bank Governor Adrian Orr said all banks had now committed to remove sales incentives for frontline staff and their managers. Read more.

   https://fma.cwp.govt.nz/news-and-resources/media-releases/banks-commit-to-removing-sales-incentives-for-frontline-staff/

7. 21 June 2019

   FMA's fifth statistical report on AFAs in NZ

   The Financial Markets Authority’s annual snapshot of Authorised Financial Advisers shows 140 advisers became AFAs in the year to the end of June 2018. That’s the highest number of new AFAs in the three years the FMA has broken down advisers being authorised and those whose authorisation lapses.

   https://fma.cwp.govt.nz/news-and-resources/media-releases/2018-nz-afas/

8. 10 June 2019

   Kiwis take longer to choose a movie than check KiwiSaver

   A recent survey of 1100 New Zealanders for the Financial Markets Authority (FMA) found four out of five people took up to 10 minutes to choose a movie, but just over half of those questioned spent the same time reading their KiwiSaver annual statement. Read more.

   https://fma.cwp.govt.nz/news-and-resources/media-releases/movie-or-kiwisaver/

9. 6 June 2019

   Morgan DeVere fined $40,000 in first FMA case of company abuse of the FSPR

   Morgan DeVere Corporate Finance Limited (Morgan DeVere) has been fined $40,000 following its conviction at the Wellington District Court on two charges of breaching the Financial Services Providers (Registration and Dispute Resolution) Act 2008 (FSP Act). Read more.

   https://fma.cwp.govt.nz/news-and-resources/media-releases/morgan-devere-fined/

10. 29 May 2019

    21 charges filed by FMA against man who convinced members of the public to ‘invest’ with him

    The Financial Markets Authority has charged a man who convinced members of the public to ‘invest’ with him with offences under the Crimes Act and the FMA Act at the Manukau District Court.

    https://fma.cwp.govt.nz/news-and-resources/media-releases/21-charges-filed/

11. 21 May 2019

    FMA research highlights gap between what investors expect and what auditors deliver

    An FMA research project with investors, directors, managers and auditors has identified reasonable levels of confidence in audit quality, but also a serious gap in the expectations of investors and what auditors are delivering. The FMA commissioned the research to better understand public and industry perceptions of audit quality in New Zealand.

    https://fma.cwp.govt.nz/news-and-resources/media-releases/fma-audit-perceptions-research/

12. 13 May 2019

    10 formal AML/CFT warnings issued by FMA

    The Financial Markets Authority (FMA) has issued formal warnings to 10 reporting entities under Section 80 of the Anti-Money Laundering and Countering Financing of Terrorism Act (AML/CFT Act). Read more.

    https://fma.cwp.govt.nz/news-and-resources/media-releases/10-formal-amlcft-warnings-issued-by-fma/

13. 3 May 2019

    Company convicted for abuse of the FSPR

    Morgan DeVere Corporate Finance Limited (Morgan DeVere) has been convicted at the Wellington District Court on two counts of breaching the Financial Services Providers Act 2008 (FSP Act) for falsely claiming it was registered on the Financial Services Providers Register (FSPR). A copy of the judgment can be found here. Read more.

    https://fma.cwp.govt.nz/news-and-resources/media-releases/company-convicted-for-abuse-of-the-fspr/

14. 16 April 2019

    Director sentenced to community service for abuse of FSPR

    A New Zealand-based director of Morgan DeVere Corporate Finance Limited has been sentenced to 75 hours of community service for breaching the Financial Service Providers (Registration and Dispute Resolution) Act 2008. Read more.

    https://fma.cwp.govt.nz/news-and-resources/media-releases/fspr-abuse/

15. 15 April 2019

    FMA files civil proceedings over trading in Oceania Natural

    The FMA has issued civil proceedings in the High Court against four individuals in relation to trading in Oceania Natural Limited. The proceedings relate to alleged breaches of market manipulation prohibitions and the disclosure obligations in the Financial Markets Conduct Act 2013. Read more.

    https://fma.cwp.govt.nz/news-and-resources/media-releases/fma-files-civil-proceedings-over-trading-in-oceania-natural/

16. 12 April 2019

    Statement on ANZ v FMA Supreme Court judgment

    The FMA is pleased with the Supreme Court decision in the matter between ANZ and the FMA. Read more.

    https://fma.cwp.govt.nz/news-and-resources/media-releases/anz-v-fma/

17. 9 April 2019

    Former CFO to pay $150,000, barred for Securities Markets Act breaches

    Mr Talbot has admitted to insider trading conduct and entered a guilty plea on a representative charge for a breach of disclosure obligations at Auckland High Court last month. Read more

    https://fma.cwp.govt.nz/news-and-resources/media-releases/mr-talbot-securities-markets-act-breaches/

18. 2 April 2019

    Update on FMA/RBNZ Bank Conduct and Culture review

    Today the Reserve Bank of New Zealand and the FMA confirmed that all 11 banks involved in their ongoing review of conduct and culture, have provided their responses to individual feedback letters. Read more

    https://fma.cwp.govt.nz/news-and-resources/media-releases/conduct-and-culture-review/

19. 1 April 2019

    AML/CFT monitoring report highlights concerns, sets out future focus

    The Financial Markets Authority (FMA) has published an Anti-Money Laundering and Countering the financing of terrorism (AML/CFT) monitoring report setting out the areas requiring further attention by the management and boards of the reporting entities it supervises. Read more.

    https://fma.cwp.govt.nz/news-and-resources/media-releases/amlcft-2018-report/

20. 29 March 2019

    FADC Findings published

    The Financial Advisers Disciplinary Committee (FADC) has published its findings in a case referred to the Committee by the FMA. Read more.

    https://fma.cwp.govt.nz/news-and-resources/media-releases/fadc-findings/