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Director sentenced to community service for abuse of FSPR

By   /  April 16, 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 Director sentenced to community service for abuse of FSPR

Source: Financial Markets Authority Media releaseMR No. 2019 – 1816th April 2019 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. (FSP Act). The FMA alleges that the company stated it was registered […]

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FMA files civil proceedings over trading in Oceania Natural

By   /  April 15, 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 files civil proceedings over trading in Oceania Natural

Source: Financial Markets Authority Media releaseMR No. 2019 – 1715 April 2019 The Financial Markets Authority (FMA) has issued civil proceedings in the High Court against four individuals in relation to trading in Oceania Natural Limited. (ONL) The proceedings relate to alleged breaches of market manipulation prohibitions and the disclosure obligations in the Financial Markets […]

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Statement on ANZ v FMA Supreme Court judgment

By   /  April 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 Statement on ANZ v FMA Supreme Court judgment

Source: Financial Markets Authority Media releaseMR No. 2019 – 1612th April 2019 The FMA is pleased with the Supreme Court decision in the matter between ANZ and the FMA, released this morning. Now that the restrictions on confidentiality over these matters has been lifted, the FMA will be able to engage with the liquidation committee […]

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Most insurtechs want to improve customer experience

By   /  April 11, 2019  /  24-7, 24/7 News, AM-NC, Business, FifthEstate1, Financial Markets Authority, FinTechNZ, InsurtechNZ, Jason Roberts, KB, Make Lemonade Media, MIL NZ OSI, New Zealand, News, Press Release Service, Reserve Bank  /  Comments Off on Most insurtechs want to improve customer experience

Source: MakeLemonade.nz Auckland – The majority of insurtech companies want to improve customer experience, a landmark report commissioned by InsurtechNZ says. New technology is helping to create improved products, according to a new Kiwi report. Wearables and telematics investment in technology is paving the way for new product offers while the rapid emergence of AI driven […]

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

By   /  April 9, 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 Former CFO to pay $150,000, barred for Securities Markets Act breaches

Source: Financial Markets Authority Media release MR No. 2019 – 159th April 2019 Mark Stephen Talbot, a former virtual chief financial officer of VMob (now Plexure) will pay $150,000 in lieu of a penalty and is barred from acting as a director or manager of a listed business for 5 years. Mr Talbot has admitted to […]

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Update on FMA/RBNZ Bank Conduct and Culture review

By   /  April 2, 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 Update on FMA/RBNZ Bank Conduct and Culture review

Source: Financial Markets Authority Media release MR No. 2019 – 142nd April 2019 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. The regulators will now begin working through the responses provided by […]

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

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

Source: Financial Markets Authority Media releaseMR No. 2019 – 131st April 2019 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.  The FMA is one of three […]

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FADC Findings published

By   /  March 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 FADC Findings published

Source: Financial Markets Authority Media releaseMR No. 2019 – 1229 March 2019 The Financial Advisers Disciplinary Committee (FADC) has published its findings in a case referred to the Committee by the FMA. A copy of the findings can be found here. The FMA encourages all Authorised Financial Advisers to read and consider the findings of […]

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Professional Conduct Committee of Chartered Accountants Australia New Zealand findings

By   /  March 28, 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 Professional Conduct Committee of Chartered Accountants Australia New Zealand findings

Source: Financial Markets Authority Media release MR No. 2019 – 1028th March 2019 The Professional Conduct Committee of the Chartered Accountants Australia New Zealand (CA ANZ) has published its findings in relation to Richard Owen Dey and Michael Derek Wood. The FMA referred the conduct of the audit firm involved, Ingham Mora, to CA ANZ […]

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Trio sentenced for theft, false statement by a promoter in Viaduct Capital & Mutual Finance case

By   /  March 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 Trio sentenced for theft, false statement by a promoter in Viaduct Capital & Mutual Finance case

Source: Financial Markets Authority Media release MR No. 2019 – 0927th March 2019 One man has been jailed and two men sentenced to home detention at the Auckland High Court for their part in using finance companies to try to save commercial businesses during the global financial crisis. Paul Bublitz was found guilty of four […]

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FMA publishes guide to shares for investors

By   /  March 26, 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 publishes guide to shares for investors

Source: Financial Markets Authority Media releaseMR No. 2019 – 0826 March 2019 The FMA has published a guide for investors on the nuts and bolts of choosing, buying, owning and selling shares. The guide, Share this! deals with the steps involved in investing in shares as well as the potential risks, to help people decide […]

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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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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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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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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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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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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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NZX & FMA initiate industry review: Capital Markets 2029

By   /  January 24, 2019  /  24-7, 24/7 News, AM-NC, DJF, Economy, Finance, Financial Markets Authority, KB, MIL NZ OSI, New Zealand, New Zealand Government Public Service  /  Comments Off on NZX & FMA initiate industry review: Capital Markets 2029

Source: Financial Markets Authority NZX and the Financial Markets Authority (FMA) have initiated an industry-led review of New Zealand’s capital markets. Capital Markets 2029 is designed to deliver a ten-year vision and growth agenda for the sector. Capital Markets 2029 will consider the current framework and broader ecosystem of New Zealand’s capital markets and outline […]

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