Latest FMA New Zealand News

Culture shift for financial services as Conduct of Financial Institutions Bill passes
FMA publishes NZX obligations annual review 28 June
Cyber security must be priority for financial sector, FMA says
FMA publishes Auditor Regulation and Oversight Plan 2022-2025
New Zealand investor confidence dips back to pre-COVID levels
OnePath and Cigna admit to fair dealing breaches for credit card repayment insurance
FMA releases record keeping information sheet for financial advice providers
Fund managers’ inconsistent performance measurement and cost of fees reduces benefits to investors
FMA issues stop order against One Management GP Limited
FMA issues new infringement notice against crowdfunding platform Equitise
FMA issues interim stop order to One in Longhorn Partnership Fund
Two individuals to pay penalties for market manipulation and disclosure breaches relating to Oceania Natural
FMA comments on conflict of interest processes
FMA directs Simplicity to remove misleading advertising and improve compliance processes
FMA censures CTRL Investments for derivatives issuer licence breaches
FMA files court proceedings alleging insider trading relating to sale of Pushpay shares
FMA publishes 2021 annual report
First ‘investment passport’ under ARFP granted to NZ fund manager
Medical Kiwi admits to making false and misleading statements
FMA warns Squirrel P2P Trustee Limited for historic custodian breaches
FMA cancels financial advice provider’s transitional licence
AxiCorp licence suspension lifted
FMA files civil proceedings against Kiwibank for false or misleading representations over fee waivers
AML/CFT risk ratings confirmed for sectors under FMA supervision
FMA releases CPA Australia and NZICA accredited body reports 3 December
Change to FMA Executive Committee
New self-assessment tools aim to boost success of financial advice providers
Auditors respond well to challenges presented by Covid
Self-reporting issues to FMA does not provide immunity from litigation
New climate-related disclosure regime expands FMA’s responsibilities
FMA sets target dates for FAP full licence applications
FMA censures Jarden for derivatives issuer licence breaches by OMF
FMA issues guidance on advertising of financial products
FMA censures Firma NZ for breaches to derivatives issuer licence obligations
FMA directs Du Val to remove misleading advertising
DIY investors encouraged to ‘take mo’ before giving in to FOMO
FMA steps up enforcement of anti-money laundering breaches
FMA appoints Karen Chang as Acting General Counsel
Momentum builds in KiwiSaver as scheme reaches $81 billion
Credit card repayment insurance poor value product, customers urged to check policies
FMA sets expectations for issuers of ‘green’ and ‘responsible’ investment products
FMA issues formal warning for market manipulation
Rise in scams impersonating NZ businesses during COVID-19
FMA seeks feedback on industry guidance for advertising financial products
FMA monitoring shows steady improvement in quality of listed company audits
FMA releases standard conditions for licensing of financial advice
FMA appoints specialist roles in FinTech and Integrated Financial System
FMA appoints KPMG Restructuring Services as temporary manager following removal of Fund Managers Otago