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June 17, 2021

We're releasing research today taking a close look at the big jump in KiwiSaver fund switching during the COVD-19 market volatility early last year.

Analysis and comparison of the switching data showed many young people made the decision to move into more conservative, lower-growth funds - and most are yet to move back.

Read more about the research
Financial statements - extension to filing requirements

Some businesses are being given additional time to comply with certain regulatory reporting requirements under the FMC Act, in response to a shortage of auditors in New Zealand, due to COVID-19 border restrictions.


The FMA is providing this temporary relief through a ‘no-action’ approach that gives eligible entities a one-month extension to file their audited financial statements and comply with certain related reporting deadlines and other audits or assurance engagements.

This relief does not apply to reporting requirements set by other regulatory bodies such as the NZX and RBNZ.

Find out more about eligibility and conditions on our website.


Vulnerable consumers
The Council for Financial Regulators (CoFR) has agreed on a common understanding of the characteristics of a vulnerable consumer. This FMA-led piece is presented as a non-binding framework to provide industry with a uniform starting point when developing or reviewing vulnerability practises.

Auditor regulation and oversight plan 2021-2024

We have published the Auditor Regulation and Oversight Plan 2021-2024, which sets out our intentions for the regulation and oversight of auditors for the next three years.

This plan will help licensed auditors, registered audit firms and accredited bodies to understand our approach to auditor regulation.

Read more about the new plan
Lender responsibilities - information sheet update

We have updated our information sheet on the lender responsibilities exclusion in the FMC Act.

This gives relief from financial advice regime obligations where lenders give advice on consumer credit contracts or certain credit-related insurance contracts in order to comply with their responsible lending obligations under the Credit Contracts and Consumer Finance Act 2003.

It clarifies how the exclusion will apply in relation to credit-related insurance contracts.

Read more

Catalist issuers making 'same class' offers and small offers

A class exemption has been granted for issuers listed on Catalist Public Market.

Read more

Employee share purchase schemes

A class exemption has been granted for certain offers that are made under, or in connection with employee share purchase schemes.

Read more

Scams, warnings and alerts

Reliance Trading Co Limited

Karatbars International GmbH, Karatbit Foundation and associated companies, Freebay

Charrington Pacific Group

Check out all FMA warnings and alerts
Financial Markets Authority
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