New Zealand is no longer a haven for traders and brokerages wishing to operate under minimal regulatory requirements
Read moreThe issuing of New Zealand's first equity crowd funding licenses could spark growth for many small to medium sized businesses. Equity crowd funding allows business to access capital by selling shares to individuals thru a regulated platform, avoiding more traditional bank lending. PledgeMe and Snowball Effect are the first providers to receive licenses from the…
Read moreFMA CEO Rob Everett sympathizes with the changes companies need to go through, but is firm in his view that New Zealand's regulatory reforms were very much a necessity.
Read moreA New Zealand investor survey conducted on behalf of the Financial Markets Authority and NZX shows there is good support for companies making initial public offerings (IPOs) this coincides with plans to launch of NZX’s new growth market aimed at small and medium-sized enterprises Many retail FX firms and supporting industry participants like SafeCharge have…
Read moreNew Zealand regulator launching active investigation into the currency trading market We learned on Monday that New Zealand's Commerce Commission is investigating the foreign exchange market, amid a global inquiry into alleged manipulation of currency rates. This comes on the back of an announcement by The Australian Securities and Investment Commission, when they joined the…
Read moreNew Zealand based Phoenix Forex promised 50%+ returns from users of its OakFX trading system. It comes as no surprise that the follow up to the story on Phoenix Forex that we reported back at the end of August is a liquidation proceeding. Following the warning issued by the FMA back then, the company's assets…
Read morePhoenix Forex requires investors to pay a substantial up-front fee of up to $25,700 to subscribe for the system. New Zealand's financial regulator FMA has issued a warning against currency account manager Phoenix Forex Limited of Auckland, and the OakFX foreign exchange trading system, for which Phoenix is the exclusive distributor. According to the FMA, Phoenix Forex…
Read moreFMA believes that information on the FX Promax website is fictitious. New Zealand's financial regulator FMA has issued a warning against Forex broker FX Promax Limited, and its website at FXpromaxltd.com. According to the FMA, the Forex brokerage operating at the website FXpromaxltd.com is representing itself as being based at 350 Queen Street in Auckland, and as…
Read more