FMA Archives - The Industry Spread

Opportunity for all Kiwis in Capital Markets 2029 report

September 16, 2019

NZX and the Financial Markets Authority (FMA) today welcomed the release of the Capital Markets 2029 report, saying the 10-year vision and growth agenda would create more opportunities for Kiwis to grow personal wealth, help New Zealand businesses to prosper, and help future-proof the country’s economy.

FMA Finding on ANZ Related Party Transaction

August 26, 2019

The FMA said today it has completed its inquiry into disclosure by ANZ of the sale of the property at 269 St Heliers Bay Road by Arawata Assets Limited to Deborah Veronica Walsh (the wife of former CEO, David Hisco) and has determined that ANZ New Zealand Group should have disclosed this as a related party transaction in its 2017 financial statements.

FMA Reiterates Warning about Potential Skyway Capital/SWIG scam

August 25, 2019

The Financial Markets Authority (FMA) is reiterating its warning that Skyway Capital may be involved in a scam, after learning the business is continuing to conduct seminars throughout the North Island. Skyway Capital is also known as Skyway Group and has most recently branded itself ‘SWIG’ (Skyway International Group).

FMA Statement on Court of Appeal judgment in Viaduct Capital and Mutual Finance

August 25, 2019

The FMA also notes that Mr Bublitz and Mr McKay remain convicted, respectively, of four and three charges of theft by a person in a special relationship. The courts have concluded that Mr Bublitz knowingly misapplied funds raised from the public, and Mr McKay assisted him in that conduct as a party.  Both have therefore been convicted of criminal activity.