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Two men convicted on Crimes Act charges

By   /  December 18, 2018  /  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 Two men convicted on Crimes Act charges

Source: Financial Markets Authority Media releaseMR No. 2018 – 55 18 December 2018  Two men convicted on Crimes Act charges Two men have been found guilty at Tauranga District Court on charges filed by the Financial Markets Authority (FMA). Robert Ian South was found guilty of two counts of theft by a person in a […]

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Explaining fees and products key for consumers

By   /  December 17, 2018  /  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 Explaining fees and products key for consumers

Source: Financial Markets Authority Media releaseMR No. 2018 – 5417 December 2018 Consumers want their financial providers to do more to explain fees and help them understand why their products are right for them. This is according to the Financial Markets Authority (FMA) survey into consumers’ experience of providers’ conduct, released today. The survey focused […]

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Accredited Body Reports Published

By   /  December 5, 2018  /  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 Accredited Body Reports Published

Source: Financial Markets Authority Media releaseMR No. 2018– 535 December 2018 The Financial Markets Authority (FMA) has today published the accredited body reports for the New Zealand Institute of Chartered Accountants (NZICA) and CPA Australia. The reports contain the findings of our monitoring assessments for the period 1 July 2017 to 30 June 2018. The […]

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FMA reports on Wynyard investigation

By   /  November 30, 2018  /  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 FMA reports on Wynyard investigation

Source: Financial Markets Authority Media releaseMR No. 2018 – 5230 November 2018  The Financial Markets Authority (FMA) today published the findings of its investigation into Wynyard Group Limited’s (Wynyard) compliance with continuous disclosure and fair dealing obligations. Following Wynyard’s failure in October 2016, the FMA and NZX undertook an investigation into the conduct of the […]

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Public warning –Brian (John) Ferguson

By   /  November 28, 2018  /  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 Public warning –Brian (John) Ferguson

Source: Financial Markets Authority Media releaseMR No. 2018 – 5128 November 2018 The Financial Markets Authority (FMA) has issued a public warning about Brian Ferguson, a registered financial adviser from Palmerston North. Following an investigation, the FMA is satisfied that Mr Ferguson copied and pasted client signatures in insurance policy documents. These policy documents were between […]

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FMA publishes 2018 Audit Quality Report & Directors’ Guide

By   /  November 26, 2018  /  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 FMA publishes 2018 Audit Quality Report & Directors’ Guide

Source: Financial Markets Authority Media releaseMR No. 2018 – 5026 November 2018 The Financial Markets Authority’s Audit Quality Report 2018 expresses concern at the continued inconsistencies in audits provided by the same firm, while noting the overall quality of audits has improved in recent years. Reviews have also highlighted the direct link between the quality […]

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Peer-to-peer lending/crowdfunding 2018 data published

By   /  November 23, 2018  /  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 Peer-to-peer lending/crowdfunding 2018 data published

Source: Financial Markets Authority Media release MR No. 2018 – 49 23 November 2018 Peer-to-peer lending/crowdfunding 2018 data published  The Financial Markets Authority (FMA) today published its second statistical report on peer to peer lending and crowd funding in New Zealand. The industry is required to submit an annual information return each year. The report […]

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Incentives for bank staff too highly focused on sales

By   /  November 15, 2018  /  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 Incentives for bank staff too highly focused on sales

Source: Financial Markets Authority Media releaseMR No. 2018 – 4815 November 2018 The Financial Markets Authority (FMA) today published Bank Incentive Structures, its thematic review of how banks in New Zealand incentivise their staff. The report sits alongside the recently published joint FMA/Reserve Bank of New Zealand Conduct and Culture review of New Zealand’s banks. […]

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Supporting family and friends who have been scammed

By   /  November 14, 2018  /  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 Supporting family and friends who have been scammed

Source: Financial Markets Authority Media releaseMR No. 2018 – 4714 November 2018 How do you support a family member or friend who you believe are being scammed? The Financial Markets Authority (FMA) is highlighting the case of ‘Simon’ and his father-in-law ‘Richard’ as part of the Ministry of Business, Innovation and Enterprise’s Fraud Awareness Week. […]

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Growing fintech opportunities emerge from banking review

By   /  November 7, 2018  /  24-7, 24/7 News, AM-NC, Business, Delta Insurance director Craig Kirk, DJF, FaceMe chief executive Danny Tomsett, Financial Markets Authority, FinTechNZ, KB, KB, Make Lemonade Media, MIL NZ OSI, New Zealand, News, November 29 summit in Auckland, Press Release Service, Xero small business director Nicole Buisson.  /  Comments Off on Growing fintech opportunities emerge from banking review

Auckland – While the results from the review by the Financial Markets Authority (FMA) and the Reserve bank could have been more positive, New Zealand banks have been looking at options to improve customer experience and embrace the fintech community which is great for all Kiwis, FintechNZ general manager James Brown says. Banking is changing as […]

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Exemption passed to enable disclosure documents in English and te reo Maori

By   /  October 29, 2018  /  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 Exemption passed to enable disclosure documents in English and te reo Maori

Source: Financial Markets Authority Media releaseMR No. 2018 – 4429 October 2018 The Financial Markets Authority (FMA) has granted a class exemption to enable companies who offer investments to publish product disclosure statements (PDS) in both te reo Māori and English (dual-language PDS). The FMA sought submissions on its proposal for an exemption earlier this year. […]

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FMA publishes annual report 2018

By   /  October 25, 2018  /  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 FMA publishes annual report 2018

Source: Financial Markets Authority Media releaseMR No. 2018 – 4325 October 2018 The Financial Markets Authority (FMA) has published its  annual report for the financial year ending June 30 2018. The report highlights a number of key activities that took place in the year, including the launch of the joint FMA/RBNZ Culture and Conduct review […]

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FMA update on Forestlands

By   /  October 25, 2018  /  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 FMA update on Forestlands

Source: Financial Markets Authority Media release MR No. 2018 – 4212 October 2018  The FMA has decided not to seek costs arising from its application to put the Forestlands companies 2-12 and 14-20 into liquidation.   The FMA has informed the liquidators, KordaMentha, accordingly.  When the FMA applied to the High Court to put the […]

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KiwiSaver nears $50 billion in 2018

By   /  October 25, 2018  /  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 KiwiSaver nears $50 billion in 2018

Source: Financial Markets Authority Media releaseMR No. 2018 – 419 October 2018 KiwiSaver continues to grow steadily according to the FMA’s 2018 KiwiSaver report. The FMA publishes a report every year based on all providers’ statutory data for the year to the end of March. Total funds in KiwiSaver for the 2018 period were just […]

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FMA issues infringement notice to Pacific Eagle Capital

By   /  October 25, 2018  /  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 FMA issues infringement notice to Pacific Eagle Capital

Source: Financial Markets Authority Media releaseMR No. 2018 – 404 October 2018 The Financial Markets Authority (FMA) has issued an infringement notice to Pacific Eagle Capital (PEC) for failing to file financial statements by its due date. PEC was required to file financial statements for the balance date of 31 March 2018 by the 31st […]

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World Investor Week encourages investors to take the plunge

By   /  October 25, 2018  /  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 World Investor Week encourages investors to take the plunge

Source: Financial Markets Authority Media releaseMR No. 2018 – 391 October 2018 The Financial Markets Authority (FMA) has launched a new campaign for World Investor Week to help New Zealanders become more confident investors by addressing some of the uncertainties around investing. World Investor Week is run by financial markets regulators around the world to […]

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KiwiSaver Risk Quiz highlights key messages for investors

By   /  September 12, 2018  /  24-7, 24/7 News, Economy, Finance, Financial Markets Authority, MIL NZ OSI, New Zealand, New Zealand Government Public Service  /  Comments Off on KiwiSaver Risk Quiz highlights key messages for investors

Source: Financial Markets Authority Media releaseMR No. 2018 – 3712 September 2018 People who took the FMA’s KiwiSaver Risk Quiz understood the importance of keeping contributing through any investment downturn, but the results highlight some key areas where more work to help investors is needed.   More than 11,000 people have taken the quiz which […]

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Preparing for investment storms

By   /  September 6, 2018  /  24-7, 24/7 News, Economy, Finance, Financial Markets Authority, MIL NZ OSI, New Zealand, New Zealand Government Public Service  /  Comments Off on Preparing for investment storms

Source: Financial Markets Authority Media release MR No. 2018 – 356 September 2018  KiwiSaver members can prepare for investment storms by being in the right type of fund and continuing to contribute through any downturn. As part of the Sorted Money Week 2018 ‘Weathering the storm’ the Financial Markets Authority (FMA) is focussing on helping […]

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KS members say dollar fee information is useful

By   /  August 16, 2018  /  24-7, 24/7 News, Economy, Finance, Financial Markets Authority, MIL NZ OSI, New Zealand, New Zealand Government Public Service  /  Comments Off on KS members say dollar fee information is useful

Source: Financial Markets Authority Media release MR No. 2018 – 3316 August 2018 The vast majority (86%) of KiwiSaver members who saw their fees in dollar amounts in their annual statements this year rated the information as “quite or very useful”, an FMA survey has found. Members rated their current balance as the most useful […]

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Decision in the case stated procedure between FMA and the administrators of CBL Corporation Limited

By   /  August 14, 2018  /  24-7, 24/7 News, Economy, Finance, Financial Markets Authority, MIL NZ OSI, New Zealand, New Zealand Government Public Service  /  Comments Off on Decision in the case stated procedure between FMA and the administrators of CBL Corporation Limited

Source: Financial Markets Authority Media releaseMR No. 2018 – 3214 August 2018  The High Court has found that an issuer’s continuous disclosure obligations do not apply during administration. The judge stated in his decision “that the disclosure / reporting obligations of an issuer in voluntary administration are contained within Part 15A of the Companies Act […]

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