New Zealand has passed new legislation enabling a new framework for regulating financial advice. The new regime will come into effect in the first half of 2020.
April 10, 2019New Zealand’s Financial Markets Authority has released a report highlighting failures in reporting entities' AML/CFT programmes, risk assessments and customer due diligence.
April 2, 2019Japan, Thailand, Australia ready to receive applications from prospective ARFP funds; New Zealand, S. Korea making progress on legal and regulatory requirements.
February 4, 2019An industry working group established by the NZX and FMA and supported by EY will provide recommendations to increase the depth and attractiveness of New Zealand’s capital markets.
January 25, 2019Though domestic financial stability risks have abated, the RBNZ said higher bank capital requirements are necessary, while also easing mortgage lending curbs.
November 30, 2018The FMA expects banks to change sales-linked incentives, or explain how they will strengthen controls to address the risk of inappropriate sales.
November 19, 2018But conduct and culture issues do not appear to be widespread at banks in New Zealand, the FMA and RBNZ said, citing only 'a small number of issues' related to poor conduct by bank staff.
November 5, 2018New Zealand's FMA has granted an exemption allowing Nikko to enter the robo-advice market; new digital platform to be launched later this year.
August 29, 2018New Zealand’s Financial Markets Authority expects firms to put customer interests first; work plan to focus on conduct, culture, governance.
August 16, 2018Over 900 investors were persuaded to invest over NZ$8mn with registered foreign exchange provider BlackfortFX, though the firm did not conduct any investment activity.
July 5, 2018