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 […]
Read More →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 […]
Read More →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 […]
Read More →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 […]
Read More →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 […]
Read More →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 […]
Read More →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 […]
Read More →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 […]
Read More →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 […]
Read More →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 […]
Read More →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 […]
Read More →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 […]
Read More →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 […]
Read More →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 […]
Read More →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 […]
Read More →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 […]
Read More →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 […]
Read More →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 […]
Read More →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 […]
Read More →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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