All posts tagged "FMA"
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1.2KAustralia & NZNZBA Issues Guidelines for Banks on Serving Customer Needs
The guidelines were developed in consultation with the FMA and build on the banking industry’s work following the 2018 conduct and culture review.
October 3, 2020 -
793Australia & NZNew Zealand FMA Warns of Action Against Poor Conduct
There are no excuses for conduct that presents the risk of harm to investors, customers and the integrity of the markets, says FMA chief Rob Everett.
September 25, 2020 -
466Australia & NZ
FMA Blocks CLSA Premium NZ From Offering Derivatives
The licence conditions will remain in place until CLSA Premium NZ lodges its audit and assurance reports for 2019.
September 24, 2020 -
789Australia & NZNew Zealand to Introduce Mandatory Climate Risk Reporting
If approved by Parliament, the new comply-or-explain climate risk disclosure regime could come into effect in 2023 at the earliest.
September 16, 2020 -
549Australia & NZ
New Zealand FMA Warns Derivatives Issuers to Ensure Compliance
Self-assessments by derivatives issuers have identified risks stemming from the way they handle client money, provide advice to retail clients, and handle vulnerable customers.
July 29, 2020 -
337Australia & NZNew Zealand Sets Out Disclosure Rules for Financial Advisers
Financial advisers will have to disclose to clients details about fees, the range of products they advise on, conflicts of interest and commissions they may earn.
June 30, 2020 -
456AML / KYC
FMA Sues CLSA New Zealand for AML Breaches
CLSA Premium NZ failed to adequately conduct customer due diligence, terminate certain business relationships, report suspicious transactions, and maintain records.
June 24, 2020 -
447Australia & NZ
FMA Sets Out Full Licence Conditions for NZ Financial Advisers
In a consultation paper, the FMA specifies three distinct classes of financial advice provider licences, to allow applicants to apply for the licence that best suits their circumstances and business structures.
June 18, 2020 -
1.5KAustralia & NZNew Zealand’s New Conduct Regime Not Adequately Developed
The bill to introduce a new conduct regime in New Zealand is not yet adequately developed, say Consumer New Zealand, the NZBA, and the Financial Services Council.
June 13, 2020 -
608Australia & NZNew Zealand FMA Files High Court Proceedings Against ANZ
ANZ issued over 300 duplicate credit card repayment insurance policies, charging double premiums for no additional cover, and failed to cancel policies for over 400 ineligible customers.
June 8, 2020
