This month we published our Annual Report for the 2018/19 financial year. We also published our KiwiSaver Annual Report for the year to the end of March 2019, which showed an increase in providers' engagement with default members, but few signs of a reduction in fees.
KiwiSaver Annual Report
FMA’s Director of Regulation Liam Mason answers a few questions about our KiwiSaver Annual Report and how we'll be looking at KiwiSaver providers to see how they're providing value for money for members.
We have published our Annual Report for the 2018/19 financial year. It covers highlights from a busy year that included the Conduct and Culture reports and a wide range of enforcement activity.
We have released an investor guide to managed funds, following research suggesting more New Zealanders are considering investments beyond term deposits due to low interest rates.
The guide provides simple explanations of how managed funds work, including an overview of the fast-growing exchange traded funds market. It follows our successful guide to investing in shares released earlier this year.
FMA is supporting the third NZ International Fraud Film Festival, -which takes place at Auckland’s ASB Waterfront Theatre on 13 and 14 November. This year’s programme includes the films The Kleptocrats, The Panama Papers and Inside Lehman Brothers, as well as panels with industry experts.
We recently announced two appointments to the FMA executive team. Sarah Vrede is our new Director of Capital Markets, and Clare Bolingford will join us in the new role of Director of Banking and Insurance.
FMA issues AML/CFT warning to Circle Markets Limited
Circle Markets Limited, a non-licensed derivatives issuer and forex provider, has been issued with a formal warning under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009.
Lonni Investment is making claims regarding financial products and/or financial services that appear to be unsubstantiated and/or false and misleading.
The FMA is concerned that Safumax Group Limited (SGL) is operating from a false address, and www.safumax.com contains misleading information that SGL is a licensed entity and regulated in New Zealand, when it is not the case.
