Outsourced CDD does not exist in isolation from reporting entities' wider CDD procedures and obligations, the DIA and FMA said.
December 20, 2021This was the first transitional licence cancelled by the FMA, due to “serious misconduct” by the company's sole financial adviser at a previous employer.
December 15, 2021Between September 2005 and March 2020, some 35,000 home loan customers were overcharged a total of NZD 1.1 million.
December 10, 2021The FMA's sector risk assessment for 2021 says VASPs, derivatives issuers and online investment platforms could be targeted by money launderers.
December 8, 2021In-scope climate reporting entities with a 31 March balance date will have to file their first climate statements by 31 July 2024, says the FMA's Sarah Vrede.
November 18, 2021The minimum expectation for good conduct risk management is for firms to self-report potential breaches to the FMA, said acting general counsel Karen Chang.
November 9, 2021Mandatory climate disclosures will be required from early 2024, for annual reporting periods that start on or after 1 January 2023.
October 25, 2021Transitional licences under the new financial advice regime will expire on 16 March 2023. Providers are asked to apply for full licences ahead of time.
October 20, 2021OM Financial, which amalgamated with Jarden in March 2021, transfered its own money into the trust account designated to hold investor money.
October 19, 2021The FMA will take action against false, misleading, deceptive or confusing advertising, depending on the severity and level of misconduct.
October 18, 2021