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FMA Update November 2019

This is our last FMA Update for the year.  There will be no FMA Update in January, with the next due to be sent out in late February, 2020.


Thank you to all our partners, stakeholders and friends who have helped us make 2019 a great year.

We hope you all have a safe and peaceful holiday season.

Civil proceedings against CBL

The FMA has issued two sets of civil proceedings in the Auckland High Court against CBL Corporation Limited (In liquidation) (CBLC), the six directors and the chief financial officer alleging multiple breaches of the Financial Markets Conduct Act 2013 (“FMC Act”).

The FMA is seeking declarations of contravention  and civil pecuniary penalties in both proceedings.

Read the media release here

Financial Markets (Conduct of Institutions) Amendment Bill

A bill for the new regime to regulate financial conduct which would expand the remit of the FMA was introduced to Parliament last week.

Industry will be able to make submissions on the bill during the Select Committee process which is expected to start early next year.


Just starting out on your licensing journey or already well down the track?

Take charge of your future, and get in shape for the changes ahead with February’s financial advice summit.

To see the full programme and to register, click here


FMA releases findings of managed investment scheme (MIS) custody review

The Financial Markets Authority has published a summary report on a review of custody arrangements in managed investment schemes.

Read the report here

Peer-to-peer lending and crowdfunding 2019 data published

This month we published the third statistical report on peer-to-peer lending (P2P) and crowdfunding services in New Zealand.

View Report
Accredited body reports

We've published our annual review of frontline regulators NZICA and CPA.



Recent warnings and alerts


Suisse Credit Capital Limited

A Dr. Ryan Praxton who purports to be a representative of Suisse Credit Capital Limited (SCCL) has used false documentation that features the FMA logo and its senior management’s names to solicit money from people. The false and fictitious documentation claims that a mandatory fee is payable to enable the FMA to obtain official documents and facilitate the approval of loan funds.

Read More

Orion Holdings Capital Management and OH Capital

The FMA recommends exercising caution before dealing with Orion Holdings Capital Management (OHCM), OH Capital and their websites , and . The business address in Ontario which OHCM and OH Captial purports to be operating from is false. OHCM is not registered to perform business in Canada in any capacity.

Read More

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