<p><span>The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko - is marking the final major milestone in the new financial advice regime: the end of the transitional licensing phase. With full licensing now in effect, this will continue to give Kiwis greater confidence in consistent standards across the financial advice industry.</span><span> </span></p>
FMA said Bay Exchange provides services not compliant with the financial markets legislation, while Krypto Security is posing as an entity to help residents recover stolen assets.
<p><span>Eighty-six per cent of financial advice providers have now embarked on – or completed – the full licence application process, according to latest statistics from the Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko.</span></p>