New Zealand has a rather untypical financial industry structure: the country doesn't have its own banks, but it relies entirely on Australia's big four banks. As reported by Financial Review, the fact that the two countries share the same banks and the same "client" for exporting their commodities (China), if for some reason both economies…
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New Zealand Financial Markets Authority (FMA) has recently added another name to its list of unregulated firms. The latest addition is the company Ashwood Holdings Limited. According to the regulator, Ashwood Holding Limited and www.ashwoodholdingsltd.com could be involved in a scam which is associated with Grace Investment, Regal Investment, and Duke Valentines Limited. It is…
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The Financial Markets Authority (FMA) has recently added two more names to its list of unregulated firms. The latest additions are the company Yifu International Futures Co Ltd and the website www.rncapitalalliance.com. According to the regulator, Yifu International Futures is not registered on the New Zealand Financial Service Providers (FSPR) register nor is it associated…
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The Australian Securities Exchange (ASX) announced today that it has teamed up with distributed ledger technology (DLT) specialist Digital Asset (DA) and VMware. The exchange has signed a three-party memorandum of understanding (MoU) to work together with the other two companies on DLT initiatives in Australia and New Zealand. This will include the development of…
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The Financial Markets Authority (FMA) has recently added a new name to its list of unregulated firms. The latest addition is the company JJ Lloyd. According to the regulator, the firm may be involved in a scam and is not registered on the New Zealand Financial Service Providers Register. The Hong Kong and Austrian regulators…
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The New Zealand Financial Markets Authority (FMA) has informed the public that it has issued a Stop Order against Syndicated Trusts Limited (STL), ordering the company to stop advertising or accepting money for financial products. A Stop Order can be used by the regulator in order to stop particular behaviour or force a market participant…
Read moreThe Financial Markets Authority (FMA) has warned an individual in relation to suspected misleading or deceptive conduct by a registered financial adviser. Following an investigation by the FMA, it concluded that the registered financial adviser had engaged in misleading or deceptive conduct when he: advised his clients of an alternative life cover plan with a…
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 moreAuckland and Wellington, New Zealand based OM Financial Limited (OMF) today announced the immediate appointment of Matt Blackwell to the role of Chief Executive Officer and Managing Director. OMF, regulated by the Financial Markets Authority is a NZ owned and operated, full service brokerage firm with a strong and established reputation in the financial markets.…
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