Tag: fma
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FMA Report Reveals Progress and Gaps in Climate Disclosures
New Zealand's Financial Markets Authority released its 2026 Climate-related Disclosures report, noting improved reporting but emphasizing the need for better identification and assessment of climate-related physical risks. FMA plans webinars and workshops to support entities.
BusinessPolitics and GovernmentEconomyEnvironmentEducationGeneral Politics FMAClimate-related Disclosuresphysical risksclimate changefinancial reportingregulatory reviewNZ Financial Markets Authority
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FMA Issues Clearer Guidance for Sustainability-Related Financial Product Disclosures
The FMA has released updated guidance to clarify sustainability-related disclosures for financial products, helping investors make informed decisions that align with their environmental, social, or value-based objectives.
BusinessPolitics and GovernmentEconomyFinancial MarketsLegalEnvironmentSocial Issues FMAsustainabilityfinancial productsdisclosureinvestorsguidanceNZ Financial Markets Authority
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FMA Seeks Feedback on Related Party Transactions Guidance
The FMA is consulting on draft guidance for related-party transactions in Managed Investment Schemes, aiming to clarify existing laws for managers and supervisors. Feedback is due by June 12, 2026.
BusinessLaw Enforcement FMAManaged Investment SchemesRelated Party TransactionsConsultationFinancial Markets AuthorityGuidanceRegulationNZ Financial Markets Authority
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FMA Discontinues Legal Action Against Hutchison Estate in CBL IPO Case
The Financial Markets Authority has dropped its case against the Hutchison Estate in the CBL IPO matter, citing recent settlements with other parties as the reason for discontinuing the action.
BusinessLaw Enforcement FMACBL CorporationIPOLegal ProceedingEnforcementSettlementHigh CourtNZ Financial Markets Authority
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Financial Advice Sector Sees Strong Growth, Digital Services Surge
New FMA report reveals a 10% rise in financial advice providers and a 90% surge in digital advice clients, alongside challenges with data accuracy.
BusinessFinanceLaw Enforcement Financial AdviceDigital AdviceFMARegulatory ReturnsConsumer OutcomesMarket TrendsFinancial ServicesNZ Financial Markets Authority
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Tower Faces $7 Million Penalty for Misleading Customers
Tower has been ordered to pay a $7 million penalty for misleading representations, leading to over $11 million in overcharges to customers. The FMA brought civil proceedings after Tower self-reported the issue.
BusinessLegalAustralasiaFinancial MarketsLaw Enforcement TowerFinancial Markets AuthorityFMAFinancial Markets Conduct ActFMC ActAucklandCivil ProceedingsNZ Financial Markets Authority
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FMA Releases Thematic Review on Financial Institutions' Product and Service Reviews
The Financial Markets Authority (FMA) has released a thematic review. The review focuses on financial institutions proactively reviewing products and services to identify consumer harms and promote improvements.
BusinessFinancial MarketsBankingEconomyLegal Financial Markets AuthorityFMAClare Bolingfordfinancial institutionsproduct reviewsservice reviewsLicensing and Conduct SupervisionNZ Financial Markets Authority
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FMA Updates Guidance on Insider Trading
The Financial Markets Authority (FMA) has issued revised educational material on insider trading, aiming to bolster compliance within the investment sector after consulting with industry stakeholders.
BusinessLegalFinancial MarketsEconomyTradeAustralasia Financial Markets AuthorityFMAinsider tradinginvestment industryLouise Ungerinstitutional investorsTe Mana Tātai HokohokoNZ Financial Markets Authority
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New Zealand's Financial Advice Sector Sees Growth, Faces Scams and Misconduct
The FMA reports an 8.4% increase in financial advisors, totaling 9,184, and a 90% surge in digital advice usage. However, the sector is grappling with rising scams and fraudulent activities, prompting increased vigilance.
BusinessPolitics and GovernmentLegalScience & TechnologyFinancial MarketsEconomyFederal GovernmentComputers and InternetSocial Issues Financial AdviceFinancial Markets AuthorityFMAScamsFraudRegulatory ReturnsInvestmentNZ Financial Markets Authority
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FMA Grants 'No Action' Relief on Climate Reporting
The FMA has decided to provide interim relief by adopting a 'no action' approach for entities affected by climate reporting changes, pending legislative amendments.
BusinessPolitics and GovernmentEnvironmentFinancial MarketsClimate ChangeFederal GovernmentLegal Financial Markets AuthorityFMAClimate Reporting EntitiesCREsLiam MasonLegislationNZ Financial Markets Authority
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FMA Warns Finbase for Disclosure and Fair Dealing Breaches
The Financial Markets Authority (FMA) has issued a warning to Finbase for breaching the Financial Markets Conduct Act 2013. Breaches relate to Single Investment financial products and failure to comply with disclosure requirements.
BusinessPolitics and GovernmentLegalFinancial MarketsEconomyBanking FMAFinbaseFinancial Markets AuthorityFinancial Markets Conduct Act 2013Financial Markets Conduct Regulations 2014Single InvestmentHP Capital LimitedNZ Financial Markets Authority
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FMA Appoints Dr. Philip Stevens as Chief Economist
The Financial Markets Authority (FMA) welcomes Dr. Philip Stevens as Chief Economist. Stevens brings 25 years of experience to the role, and will lead the FMA’s research and data analysis efforts.
BusinessPolitics and GovernmentEconomyFinancial MarketsBankingEmployment and Labor FMAPhilip StevensSamantha BarrassChief EconomistFinancial Markets AuthorityEconomicsNZ Financial Markets Authority
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FMA Seeks Feedback on Ethical Investment Disclosure Guidance
The Financial Markets Authority (FMA) is consulting on updated draft guidance for financial products with ethical characteristics, aiming to improve clarity and prevent misleading disclosures.
BusinessPolitics and GovernmentEconomyFinancial MarketsTradeLegal Financial Markets AuthorityFMAethical investmentLouise UngerFinancial Conduct ReportinvestmentFinanceNZ Financial Markets Authority
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ANZ Pays $3.25 Million for Misleading Statements
ANZ admits to breaching fair dealing laws after an FMA investigation, paying $3.25 million for wrongly applying fees and incorrectly claiming mortgage incentive repayments.
BusinessPolitics and GovernmentEconomyFinancial MarketsBankingLegal ANZFinancial Markets AuthorityFMAFinancial Markets Conduct ActMortgage incentivesOverdraft feesFinanceNZ Financial Markets Authority
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Financial Markets Authority Seeks Feedback on Tokenisation
The FMA is seeking feedback on the implications of tokenisation, the process of turning real or virtual assets into digital tokens, to balance innovation and consumer protection in New Zealand's financial markets.
BusinessScience & TechnologyEconomyFinancial MarketsBankingComputers and InternetLegal Financial Markets AuthorityFMAtokenisationdigital assetsblockchainLiam Masonfinancial servicesNZ Financial Markets Authority
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FMA Warns of Surge in Social Media Investment Scams Using Deepfakes
The FMA warns of a surge in social media investment scams, with scammers impersonating NZ celebrities and business leaders using deepfake videos to lure victims into fake investment platforms.
BusinessPolitics and GovernmentScience & TechnologyFinancial MarketsSocial IssuesComputers and Internet FMAsocial mediainvestment scamsdeepfakesClare BolingfordFinancial Markets AuthorityNZ Financial Markets Authority
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FMA Warns Kiwibank for Overcharging Customers
The FMA has warned Kiwibank for overcharging customers on joint accounts between 2011 and 2024. Kiwibank overcharged 8,663 customers a total of $912,053.79. The FMA has said that Kiwibank could have identified the issue earlier.
BusinessPolitics and GovernmentFinancial MarketsBankingLegal FMAKiwibankFinancial Markets Authorityoverchargingfee waiversjoint accountsFinancial Markets Conduct ActNZ Financial Markets Authority