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FMA to hold directors to account for FSPR abuse, first charges filed

By   /  March 21, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, Financial Markets Authority, KB, MIL NZ OSI, New Zealand, New Zealand Government Public Service  /  Comments Off on FMA to hold directors to account for FSPR abuse, first charges filed

Source: Financial Markets Authority Media release MR No. 2018-0327 February 2018 The Financial Markets Authority (FMA) has filed criminal charges against Pegasus Markets Ltd and Michael Reps for breaching the Financial Service Providers (Registration and Dispute Resolution) Act (FSP Act). The company is charged with two counts of breaching section 12 of the FSP Act. The New […]

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New Zealand Investment Funds, with combined assets of more than NZ$90 billion, add their weight to calls for Facebook, Google and Twitter to take action

By   /  March 20, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, Investments, KB, MIL NZ OSI, New Zealand, New Zealand Government Public Service, New Zealand Superannuation Fund  /  Comments Off on New Zealand Investment Funds, with combined assets of more than NZ$90 billion, add their weight to calls for Facebook, Google and Twitter to take action

Source: New Zealand Superannuation Fund The NZ Super Fund, Accident Compensation Corporation, Government Superannuation Fund Authority, National Provident Fund and Kiwi Wealth are putting their investment heft behind calls for Facebook, Google and Twitter to take action following the live-streaming and sharing on social media of last week’s Christchurch terror attacks. Together, the five public […]

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Reserve Bank presented with award for the Bank Financial Strength Dashboard

By   /  March 14, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, KB, MIL NZ OSI, New Zealand, New Zealand Government, New Zealand Government Business, Reserve Bank of New Zealand  /  Comments Off on Reserve Bank presented with award for the Bank Financial Strength Dashboard

Source: Reserve Bank of New Zealand Release date 14 March 2019 The Reserve Bank has received the ‘Initiative of the Year’ award for the Bank Financial Strength Dashboard at the Central Banking Publications annual awards. Head of Financial System Policy Analysis Toby Fiennes accepted the award on behalf of the Reserve Bank at a ceremony […]

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Expiry dates on all Financial Markets Conduct Act licences to be removed

By   /  March 12, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, Financial Markets Authority, KB, MIL NZ OSI, New Zealand, New Zealand Government Public Service  /  Comments Off on Expiry dates on all Financial Markets Conduct Act licences to be removed

Source: Financial Markets Authority The Financial Markets Authority (FMA) is to remove the expiry dates for all licences issued under the Financial Markets Conduct Act 2013 in a process expected to be complete by the middle of 2019. Open-ended terms will apply to all new and existing licences, unless an expiry date is specified on […]

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New publication – How we Invest White Paper on Climate Change

By   /  March 12, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, Investments, KB, MIL NZ OSI, New Zealand, New Zealand Government Public Service, New Zealand Superannuation Fund  /  Comments Off on New publication – How we Invest White Paper on Climate Change

Source: New Zealand Superannuation Fund This white paper, by Matt Whineray (CEO) and Anne-Maree O’Connor (Head of Responsible Investment), one of a series of papers explaining how we invest, sets out the NZ Super Fund’s climate change strategy, how we have implemented it and some of the frameworks we have used. Further information about our […]

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NZ Super Fund takes important step to improve transparency

By   /  March 11, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, Investments, KB, MIL NZ OSI, New Zealand, New Zealand Government Public Service, New Zealand Superannuation Fund  /  Comments Off on NZ Super Fund takes important step to improve transparency

Source: New Zealand Superannuation Fund Records of how the NZ Super Fund has voted at listed company AGMs are now available on the Fund’s website. Anne-Maree O’Connor, Head of Responsible Investment, says the move is a step forward for transparency, and in line with leading investment management practices globally. Stakeholders can now see NZ Super […]

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Secretary to the Treasury nominated as the Treasury observer on the Monetary Policy Committee

By   /  March 8, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, KB, MIL NZ OSI, New Zealand, New Zealand Government, New Zealand Government Business, Reserve Bank of New Zealand  /  Comments Off on Secretary to the Treasury nominated as the Treasury observer on the Monetary Policy Committee

Source: Reserve Bank of New Zealand Release date 08 March 2019 News release issued by the Treasury The Secretary to the Treasury, Gabriel Makhlouf, will formally take up the role of the Treasury observer on the Monetary Policy Committee (the MPC) as of 1 April 2019. The MPC and the role of Treasury observer were […]

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Appeal court judgment in ANZ Bank New Zealand v Financial Markets Authority

By   /  March 5, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, Financial Markets Authority, KB, MIL NZ OSI, New Zealand, New Zealand Government Public Service  /  Comments Off on Appeal court judgment in ANZ Bank New Zealand v Financial Markets Authority

Source: Financial Markets Authority Media release MR No. 2019 – 075 March 2019 The court of Appeal has allowed an appeal by the FMA in the matter of ANZ Bank New Zealand (ANZ) v Financial Markets Authority (FMA) A copy of the judgment can be found here. ANZ has sought leave to appeal the decision to […]

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ASX 24 derivatives market review

By   /  March 1, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, Financial Markets Authority, KB, MIL NZ OSI, New Zealand, New Zealand Government Public Service  /  Comments Off on ASX 24 derivatives market review

Source: Financial Markets Authority Media releaseMR No. 2019 – 061st March 2019  The FMA has today published the findings of its obligations review of the ASX 24 derivatives market. The review did not identify any significant issues, and the FMA is generally satisfied that ASX is meeting the conditions of its market operator licence. The […]

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The ingredients for successful KiwiSaver communications

By   /  February 27, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, Financial Markets Authority, KB, MIL NZ OSI, New Zealand, New Zealand Government Public Service  /  Comments Off on The ingredients for successful KiwiSaver communications

Source: Financial Markets Authority Media releaseMR No. 2019 – 0527th February 2019 The results of a second FMA, MBIE and industry trial demonstrates using communications based on behavioural insights encourages KiwiSaver members to make an active choice about their investment. The report, “Using behavioural insights to improve KiwiSaver outcomes” was published today. Behavioural insights are techniques […]

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Safer banks for greater wellbeing

By   /  February 26, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, KB, MIL NZ OSI, New Zealand, New Zealand Government, New Zealand Government Business, Reserve Bank of New Zealand  /  Comments Off on Safer banks for greater wellbeing

Source: Reserve Bank of New Zealand Release date 26 February 2019 Increasing the amount of capital banks must have would help to improve the safety of New Zealand’s financial system and wellbeing, Reserve Bank Deputy Governor Geoff Bascand said today. The Reserve Bank is currently consulting on a proposal to raise the minimum amount of […]

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South and Provan jailed for 4 years and 6 months on Crimes Act charges

By   /  February 25, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, Financial Markets Authority, KB, MIL NZ OSI, New Zealand, New Zealand Government Public Service  /  Comments Off on South and Provan jailed for 4 years and 6 months on Crimes Act charges

Source: Financial Markets Authority Media release MR No. 2019 – 0425th February 2019 Two men have both been sentenced to four years and six months in prison at Tauranga District Court on charges brought by the Financial Markets Authority (FMA). Robert Ian South was found guilty of two counts of theft by a person in […]

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Monetary Policy Committee code of conduct approved

By   /  February 20, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, KB, MIL NZ OSI, New Zealand, New Zealand Government, New Zealand Government Business, Reserve Bank of New Zealand  /  Comments Off on Monetary Policy Committee code of conduct approved

Source: Reserve Bank of New Zealand Release date 20 February 2019 The code of conduct for the Monetary Policy Committee was approved by the Reserve Bank of New Zealand Board on 19 February 2019. The code sets out standards of ethical and professional conduct that must be adhered to by members of the committee. Together […]

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NZ Super Fund 2017/18 Annual Select Committee Review

By   /  February 20, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, Investments, KB, MIL NZ OSI, New Zealand, New Zealand Government Public Service, New Zealand Superannuation Fund  /  Comments Off on NZ Super Fund 2017/18 Annual Select Committee Review

Source: New Zealand Superannuation Fund Appearing before Parliament’s Finance and Expenditure Select Committee today for the 2017/18 Annual Review of the Guardians of New Zealand Superannuation, Chair Catherine Savage provided an update on the performance of the NZ Super Fund. Ms Savage said recent volatility in equity markets provided opportunities for investors such as the […]

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Smart Investor tool launched to help Kiwis get ahead financially

By   /  February 20, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, Financial Markets Authority, KB, MIL NZ OSI, New Zealand, New Zealand Government Public Service  /  Comments Off on Smart Investor tool launched to help Kiwis get ahead financially

Source: Financial Markets Authority Media releaseMR No. 2019 – 0320 February 2019 [embedded content] A new online tool called Smart Investor enables Kiwis to search and compare New Zealand investments such as KiwiSaver, shares, bonds and other types of managed products for the first time. Housed on the Sorted website, the portal offers the first […]

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Consultation on new mortgage bond standard extended and loan template published

By   /  February 15, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, KB, MIL NZ OSI, New Zealand, New Zealand Government, New Zealand Government Business, Reserve Bank of New Zealand  /  Comments Off on Consultation on new mortgage bond standard extended and loan template published

Source: Reserve Bank of New Zealand Release date 15 February 2019 The Reserve Bank is extending the consultation period for the proposed mortgage bond standard. The new standard is aimed at supporting confidence and liquidity in the New Zealand markets. Consultation began in November. Following requests from stakeholders, the Reserve Bank has extended the consultation […]

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New RBNZ monetary policy committee remit reiterates focus on price stability and employment

By   /  February 14, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, KB, MIL NZ OSI, New Zealand, New Zealand Government, New Zealand Government Business, Reserve Bank of New Zealand  /  Comments Off on New RBNZ monetary policy committee remit reiterates focus on price stability and employment

Source: Reserve Bank of New Zealand Release date 14 February 2019 News release issued by the Minister of Finance The Coalition Government’s plan to reform and modernise the Reserve Bank Act experienced an important milestone today, Finance Minister Grant Robertson says. Grant Robertson and Reserve Bank Governor Adrian Orr today signed the first ‘remit’ setting […]

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Financial Service Providers Taking Consumers for Granted

By   /  February 5, 2019  /  24/7 News, AM-NC, Auckland, DJF, Finance, KB, KB, New Zealand, Press Release, Press Release Service Auckland  /  Comments Off on Financial Service Providers Taking Consumers for Granted

Source: Press Release Service – Auckland (PR.co.nz) Kiwi consumers are not voting with their wallets when it comes to buying financial products such as credit cards, home loans, insurances and when investing in savings products such as KiwiSaver funds. In the process, not only are they missing out on big dollars, but also on ensuring […]

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Key appointment at Guardians of New Zealand Superannuation

By   /  January 30, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, Investments, KB, MIL NZ OSI, New Zealand, New Zealand Government Public Service, New Zealand Superannuation Fund  /  Comments Off on Key appointment at Guardians of New Zealand Superannuation

Source: New Zealand Superannuation Fund The Guardians of New Zealand Superannuation has appointed Sam Porath to the position of Manager – NZ Equities. Mr Porath will lead the team managing the NZ Super Fund’s in-house active New Zealand equities mandate. Currently Portfolio Manager – Strategic Tilting, Mr Porath joined the Guardians in 2013 from Russell […]

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FMA and RBNZ report on life insurer conduct and culture

By   /  January 29, 2019  /  24-7, 24/7 News, AM-NC, Economy, FifthEstate1, Finance, Financial Markets Authority, KB, MIL NZ OSI, New Zealand, New Zealand Government Public Service  /  Comments Off on FMA and RBNZ report on life insurer conduct and culture

Source: Financial Markets Authority Media release MR No. 2019 – 0229 January 2019 The Financial Markets Authority (FMA) and Reserve Bank of New Zealand (RBNZ) have completed their joint review of 16 New Zealand life insurers. This review follows the regulators’ bank review published in November 2018. Rob Everett, FMA Chief Executive said: “Overall the report […]

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