All posts tagged "FMA"
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286AML / KYCNew Zealand DIA, FMA Issue Directions on Outsourced CDD
Outsourced CDD does not exist in isolation from reporting entities' wider CDD procedures and obligations, the DIA and FMA said.
December 20, 2021 -
352Australia & NZFMA Cancels Financial Advice Provider’s Transitional Licence
This 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, 2021 -
480Australia & NZNZ FMA Files Suit Against Kiwibank for Overcharging Customers
Between September 2005 and March 2020, some 35,000 home loan customers were overcharged a total of NZD 1.1 million.
December 10, 2021 -
379AML / KYC
NZ FMA Risk Assessment Finds VASPs Sector ‘High Risk’
The FMA's sector risk assessment for 2021 says VASPs, derivatives issuers and online investment platforms could be targeted by money launderers.
December 8, 2021 -
355Australia & NZ
FMA Issues Guidance on Mandatory Climate Disclosure Regime
In-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, 2021 -
296Australia & NZ
NZ FMA Expects Proactive Self-reporting of Misconduct Issues
The 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, 2021 -
441Australia & NZNew Zealand Passes Climate Reporting Legislation in World First
Mandatory climate disclosures will be required from early 2024, for annual reporting periods that start on or after 1 January 2023.
October 25, 2021 -
235Australia & NZ
FMA Sets Target Dates for Financial Advice Licensing
Transitional 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, 2021 -
278Australia & NZ
NZ FMA Censures Jarden Securities for Client Money Breaches
OM Financial, which amalgamated with Jarden in March 2021, transfered its own money into the trust account designated to hold investor money.
October 19, 2021 -
312Australia & NZ
FMA Finalises Guidance on Advertising of Financial Products
The FMA will take action against false, misleading, deceptive or confusing advertising, depending on the severity and level of misconduct.
October 18, 2021
