Financial services firms are required to protect consumers and the public during the entire lifecycle of a financial product or service.
May 26, 2022Frontline staff with more positive perceptions of customer and conduct outcomes had incentives that emphasised both financial and non-financial factors.
November 24, 2021Banks may not share customers' personal data with third parties including their own group companies for direct marketing purposes.
November 23, 2021Locally incorporated AIs should ensure their trust subsidiaries comply with the code of practice. Supervisory action may be taken for noncompliance.
November 8, 2021The FMA says liquidity stress tests are not being performed frequently enough and fund managers do not have sufficient liquidity management tools.
June 24, 2021The new guidance is aimed at assisting entities in establishing necessary arrangements to mitigate conduct risk associated with the discontinuation of LIBOR.
December 1, 2020Banks should take into account Covid-19 in product due diligence and client suitability assessments, and exercise caution when dealing in leveraged products.
August 10, 2020China Rise's former CEO placed 199 illegal short selling orders in 2014, and an unnamed senior manager executed cross trades at a price detrimental to the client.
November 1, 2019New legislation to implement the regime is expected by year-end, empowering the FMA with stronger enforcement tools and the ability to impose higher penalties for conduct breaches.
September 27, 2019The steering group will identify best practices, monitor trends and emerging issues, and collaborate on initiatives to promote strong culture and conduct.
May 23, 2019