The FMA has acknowledged the announcement by Commerce and Consumer Affairs Minister Paul Goldsmith of government approval to increase FMA funding. The Government has approved an increase in funding of $9.8 million. While the Crown and levy payers will continue to share the costs of funding the FMA, this increase has been made possible by…
Read moreThe Financial Markets Authority (FMA) has elected to discontinue the proceeding against equity firm Archer Capital (Pty) Limited (Archer) and Healthcare Industry Limited (HIL). The defendants, Archer and HIL, have accepted that the FMA was justified in investigating the conduct that is the subject of this claim. The FMA has concerns about market practice in…
Read moreThe Financial Markets Authority (FMA) of New Zealand today has ordered a foreign exchange educator to change its marketing materials on the basis that they were misleading or deceptive, and it had made unsubstantiated statements about its services. Cambrian Corporation Limited (Cambrian) offers training and advice services relating to intra-day foreign exchange trading. In the…
Read moreNew Zealand's Financial Markets Authority (FMA) has earlier today updated its list of unregistered businesses, adding one more FX company to it. The latest addition to the list is Hangsiu Group Limited, operating via www.hangsiugroup.com. The company offers a variety of FX services, including trading on MT4. The FMA is concerned that the website of…
Read moreNew Zealand's Financial Markets Authority (FMA) keeps its battle against investment companies seeking to defraud local investors with promises of easy money and artificially high profits. In a special announcement out today, the New Zealand regulator alerts investors against dealing with firms whose services and products fall outside the perimeter of regulation. The FMA says…
Read moreNew Zealand's Financial Markets Authority (FMA) issued has added one more Forex company to its list of unregistered businesses. The latest addition to the list is Suisse Limited, operating as ECN Markets. The company, purporting to be based in Anguilla, offers its services through www.ecnmarkets.com (website was unresponsive at the moment of writing of this…
Read moreNew Zealand's Financial Markets Authority (FMA) has earlier today included one more company in its list of “Businesses to be wary of”. The latest addition to the list is Fidelis International Trading Limited, a company that offers a raft of investment services, including CFD and Forex trading. The company, operating from https://www.fidelisinternationaltrading.com/en/, purports to have…
Read moreA follow-up to LeapRate's earlier report about Forex broker Excelsior Markets, which in September this year addressed the court seeking it to overturn a decision by the New Zealand Financial Markets Authority (FMA) to deregister the company from the Financial Services Provider Register... The broker has suffered legal defeat, with media reports today saying that the High…
Read moreA total of 155 individuals and companies were deregistered from New Zealand's Financial Service Providers Register (FSPR) in October 2015, in a move highlighting the strict reputation of local authorities. The number of individuals and businesses deregistered is way higher than the 119 entities that lost their registration in September this year. The deregistration is…
Read moreNew Zealand's Financial Markets Authority (FMA) today confirmed the appointment of Paul Gregory in the role of director of external communications and investor resources. Mr. Gregory will be joining the FMA’s executive committee from the NZ Super Fund where he has been since March 2009, firstly as head of communications before shifting to the investments…
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