Monday, 28 June 2021, 12:06 pm
The Financial Markets Authority (FMA) - Te Mana Tātai
Hokohoko - has released a guide
to talking about money online following concerns some social
media influencers and bloggers may be straying into
regulated financial advice.
Rob Everett, FMA Chief
Executive, said the new guide is primarily intended for
social media influencers but also contains useful tips for
consumers when they come across someone providing financial
commentary on social media.
“Many people now offer
their thoughts and perspectives on all sorts of financial
matters and some have built strong followings,” Mr Everett
said.
“It’s great to see more people taking an
Tuesday, 25 May 2021, 10:29 am
The Financial Markets Authority (FMA) - Te Mana Tātai
Hokohoko - is urging young New Zealanders to check they’re
in the right KiwiSaver fund. The call follows data
indicating over 12,000 KiwiSaver members aged 26-35 years
old are sitting in lower risk or conservative funds after
switching from higher growth funds during COVID-19 market
volatility last year.
Data supplied to the FMA by 11
KiwiSaver providers shows around 12,700 younger KiwiSaver
members switched from growth to conservative funds between
February and April last year and most of them are still
sitting in conservative funds, which may not be aligned with
Friday, 14 May 2021, 10:51 am
The Financial Markets Authority - Te Mana Tātai Hokohoko
(FMA) notes the Government’s announcement today regarding
new KiwiSaver default provider arrangements, these include
new settings that offer a package of benefits for default
KiwiSaver members.
Finance Minister Grant Robertson
and Commerce and Consumer Affairs Minister David Clark have
revealed the appointment of BNZ, Booster, BT Funds
(Westpac), KiwiWealth, Simplicity and Smartshares (NZX) as
default providers for the next seven years, noting they were
selected for offering the best value for money for
investors.
Rob Everett, FMA Chief Executive, said
value for money and fees had been a sharp focus of the
Wednesday, 14 April 2021, 1:50 pm
Fund managers are expected to annually review their fees
and value for money with their supervisors and prove to the
Financial Markets Authority (FMA) the review has happened,
as a result of final
guidance on fund manager fees and value for money,
published today.
Each review will formally conclude
the fund manager’s fees are not unreasonable and represent
value for money for their investors or, if not, will prompt
concrete remedial steps including increasing services,
reducing fees or both.
Managers of KiwiSaver schemes
and other managed funds have existing obligations, statutory
duties, and conduct expectations about their fees and value
Tuesday, 16 March 2021, 10:44 am
The Financial Markets Authority (FMA) Board today
announced that Chief Executive Rob Everett had resigned and
would leave the organisation towards the end of the
year.
FMA Chair Mark Todd said Mr Everett has done an
outstanding job as the FMA’s second Chief Executive,
overseeing the implementation of the Financial Markets
Conduct Act as well as helping to lead a national discussion
around the need for conduct regulation in financial
services.
“Rob has been, and will continue to be, a
truly outstanding leader of the FMA, who will leave a
lasting legacy. He has the greatest respect both within the