New Zealand - FMA Regulation News

Minister Announces More Funding for New Zealand's FMA Work

4 Nov 2016, Auckland, New Zealand - LeapRate - 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 the Government approving an increase in the portion of funding . . .

Plus500 Granted Operating License by New Zealand FMA

3 Oct 2016, Auckland, New Zealand - Finance Magnates - The Financial Markets Authority has granted Plus500 its fifth regulatory license. Plus500 has just announced that following last week's acquisition of a license to operate in Israel, the company has also been granted by the New Zealand Financial Markets Authority. The news is indicative of the company's ongoing commitment to expand its presence in the Asia-Pacific region. The subsidiary which . . .

New Zealand Deregisters Solidary Markets NZ

2 Jun 2016, Auckland, New Zealand - SMN Weekly - New Zealand's business ministry issued on Wednesday a notice about the removal of forex brokers Solidary Markets Nz Ltd. , Sumo Forex Ltd. , and Tigerwit Prime Ltd. together with another 50 entities and individuals, from the Financial Service Providers Register (FSPR) of investment service providers authorized to operate in the country. The decision for the deregistration of Solidary Markets was . . .

New Zealand Authorities Deregister the Forex Broker AceForex

17 Mar 2016, Auckland, New Zealand - SMN Weekly - New Zealand's authorities have removed the AceForex forex broker from the Financial Service Providers Register (FSPR), shows a list published on the country's Companies Office. According to its website, www.acefx24.com, the broker is headquartered in New Zealand, but also has offices in the US and Asia. It claims it is fully regulated and licensed, but, besides the FSPR registration number and . . .

High Court Upholds Deregistration of Pakistani Owned FX Firm Excelsior Markets

18 Dec 2015, Auckland, New Zealand - NBR - The High Court in Auckland has upheld the deregistration of Pakistani-owned foreign exchange firm Excelsior Markets, agreeing that the company didn't operate in New Zealand, and if it kept its registration, that could mislead people into thinking it was regulated by local law. Justice Gerald Nation today dismissed Excelsior's appeal to overturn its removal from the Financial Services Provider Register.

New Zealand Regulatory Backlash against Forex Brokers Hits a Roadblock

29 Sep 2015, Auckland, New Zealand - Finance Magnates - After a precedent, a number of companies are expected to file appeals against their delisting from the Financial Service Providers. The past couple of months have led to some major developments for forex brokers registered in New Zealand. After a number of signals from clients, New Zealand's regulatory authorities have begun cleaning up the mess which the space has become after a number of . . .

Excelsior Markets Takes NZ Regulator to Court over Deregistration from FSP List

29 Sep 2015, Auckland, New Zealand - LeapRate - Excelsior Markets, a Forex broker with an office in Auckland, is challenging a decision by New Zealand's Financial Markets Authority (FMA) to remove it from the Financial Service Providers Register (FSPR). A report by NZ Herald says the company filed an appeal against the deregistration at the High Court at Auckland this morning. The main point of disagreement between the regulator and the company . . .

Forex Trend Accounts for 60% of Complaints to New Zealand's FDR

25 Jun 2015, Auckland, New Zealand - LeapRate - During the 11 months to May 31, 2015, New Zealand's Financial Dispute Resolution (FDR) scheme got 248 complaints regarding Forex Trend, all of them from Ukrainian residents. Clients of Forex Trend Ltd, the retail Forex broker that was earlier this month deregistered from New Zealand's Financial Services Providers (FSP) list due to regulatory concerns, have been most active in contacting the Financial . . .

New Zealand's Regulator Orders Deregistration of Forex Trend from FSP List

10 Jun 2015, Auckland, New Zealand - LeapRate - The Financial Markets Authority today started procedures for striking off the troubled FX broker from the list of Financial Service Providers (FSP). The situation around financial troubled Forex Trend Limited, the New Zealand-based retail Forex broker, is worsening, as the country's financial watchdog today ordered the deregistration of the company from the Financial Service Providers (FSP) register.

New Zealand's FMA Says Forex Trend Cannot Meet Obligations to Clients

4 May 2015, Auckland, New Zealand - LeapRate - The FX broker, which has been blacklisted in Russia already, is unable to meet its obligations and will soon be in the hands of liquidators. Today brought an unfortunate piece of news for the clients of Forex Trend, a retail FX broker with an address in Ukraine and registration in New Zealand. The Financial Markets Authority (FMA), New Zealand's financial services watchdog, has issued a warning . . .