FMA Archives - Page 2 of 5 - The Industry Spread

New Vision for Council of Financial Regulators

August 22, 2019

The new vision aims to contribute to maximising New Zealand’s sustainable economic wellbeing through responsive and coordinated financial system regulation, and allows for a longer-term view that more effectively recognises the specific responsibilities of each agency.

New Zealand Launches Asia Region Funds Passport (ARFP)

August 1, 2019

Kiwi investors and managed funds will now be able to do business more easily with Australia, Japan and Thailand, after New Zealand’s implementation of the Asia Region Funds Passport (ARFP). The ARFP, signed by New Zealand, Australia, Japan, Thailand and Korea in 2016, facilitates the offering of liquid and well diversified managed funds among the signatory economies.

Investor Confidence Stable and Improving Over Time

July 28, 2019

Investor  Confidence in New Zealand’s financial markets has remained stable over the past two years, despite volatile global markets and a focus on the culture and conduct of major financial institutions in Australia and New Zealand.

FMA Issues Stop Order Against Syndicated Trusts Limited

July 28, 2019

The Financial Markets Authority (FMA) has issued a Stop Order against Syndicated Trusts Limited (STL), ordering the company to stop advertising or accepting money for financial products. The FMA warns New Zealanders to be wary of dealing with the company.

FMA Sets Out Key Focus Areas For The Year Ahead

July 28, 2019

FMA sets out key focus areas for the year ahead. The FMA today published its Annual Corporate Plan (ACP), which outlines its work plan for the next financial year and sets objectives for raising standards of behaviour across financial services.

Warning: MBI International/MFC Club

July 18, 2019

The FMA has issued a further warning to investors about a Malaysian-based loyalty scheme, MBI International, also trading as MFC Club (MFC Club). The FMA warned investors about MFC Club a year ago but has received new reports that the MFC Club is being promoted within New Zealand’s Chinese speaking community. 

Banks Commit to Removing Sales Incentives for Frontline Staff

July 1, 2019

The FMA and Reserve Bank of New Zealand said today that all banks had committed to remove sales incentives from frontline staff and their managers. Last year’s report by the FMA and RBNZ on banking conduct and culture required banks to outline their plans to remove sales incentives in line with the following criteria