No images? Click here
May 03, 2022
FMA Update
Why 'tick-box' conduct compliance doesn’t cut it anymore
There’s an evolution happening in the way financial institutions are regulated around the world.
In a new article, FMA Director of Banking and Insurance Clare Bolingford describes how the regulatory lens is changing to consider the outcomes consumers experience.
Financial advice providers - full licence applications
Financial advice providers can check where they're at and see what steps they may still need to take by downloading our 8-step plan to applying for a financial advice provider (FAP) full licence.
It breaks the task into a series of straightforward steps for Class 1 and Class 2 FAP licence applicants and has links to helpful tools and resources.
Use it to check progress and identify the next steps needed to apply by the target date of 30 September 2022.
Remember, we’re here to help. If you get stuck on a step, contact the licensing team questions@fma.govt.nz
Class exemption targeted consultation
We are intending to undertake a targeted consultation this month with relevant stakeholders on the renewal of this existing class exemption notice due to expire this year:
• Multiple-participant Schemes - Participation Agreements exemption notice 2017, expires 22.10.22
Please get in touch if you would like to be involved in this consultation and we will add you to the list of stakeholders we will contact to seek views about this notice.
Enforcement update - Equitise
Another infringement notice has been issued to Equitise Pty for failing to file financial statements on time.
The licensed crowdfunding platform has also been late in filing its annual regulatory returns for two consecutive years.
The FMA’s new infringement notice requires Equitise to pay a $7,500 fee for the offence.
Oceania Natural - market manipulation
Zhongyang (Sean) Meng and Jiashun (Sam) Qian have been ordered to pay pecuniary penalties of $180,000 and $130,000 respectively for market manipulation and disclosure breaches involving Oceania Natural Limited (ONL) shares.
Latest scam warnings:
- www.biguncle.work
- Onyx Group Limited
- Capital Maximus and My Trading College
- JMS-ICAV
- thelionhub.xyz
- Prime Capital Limited
- allianceequities.ltd and alphabase.ltd
- Finanex Limited
- Quwiex Limited
- Ryo Currency
- Golden Hawk
- eth-coinbasemart.com
- Finsroyal.com
- financeassistlimited.com
- www.stallioncapital.net
- croftcapital.ltd
- Bitcoin Era
Connect with us
 |