Tag: finance
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FMA Seeks Feedback on Ethical Investment Disclosure Guidance
The Financial Markets Authority (FMA) is seeking feedback on updated draft guidance for financial products with ethical characteristics. The guidance aims to assist issuers in presenting their products in disclosures and advertising related to ethical claims. The consultation is open…
BusinessPolitics and GovernmentEconomyFinancial MarketsTradeLegal Financial Markets AuthorityFMAethical investmentLouise UngerFinancial Conduct ReportinvestmentFinanceNZ Financial Markets Authority
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ANZ Pays $3.25 Million for Misleading Statements
ANZ has admitted to breaching fair dealing laws and will pay $3.25 million to the Crown following a Financial Markets Authority (FMA) investigation. The breaches involve wrongly applying fees and interest for unarranged overdrafts and incorrectly claiming repayment of mortgage…
BusinessPolitics and GovernmentEconomyFinancial MarketsBankingLegal ANZFinancial Markets AuthorityFMAFinancial Markets Conduct ActMortgage incentivesOverdraft feesFinanceNZ Financial Markets Authority
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New Zealand Anti-Scam Alliance Receives Welcome from FMA
The Financial Markets Authority (FMA) has welcomed the formation of the New Zealand Anti-Scam Alliance, a joint operational partnership aimed at tackling scams. FMA Executive Director Clare Bolingford emphasized the importance of collaboration in combating scams, stating, "Collaboration is a…
BusinessPolitics and GovernmentScience & TechnologyFinancial MarketsLaw EnforcementLegalComputers and Internet Financial Markets AuthorityNew Zealand Anti-Scam AlliancescamsClare BolingfordinvestmentNCSCFinanceNZ Financial Markets Authority
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Media Monitor: Reserve Bank Holds Official Cash Rate
Radio New Zealand is reporting that the Reserve Bank has held the official cash rate at 3.25 percent. It said the central bank was widely expected to hold the rate steady after nearly a year of cuts. The bank stated…
Politics and GovernmentHealthBusinessSportWorldEconomyMedical ScienceLaw Enforcement Reserve Bankofficial cash rateBarbara Rose McGeeScott GuyFeildingFinanceRNZ News
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Filcare Services Loses Financial Advice Provider Licence
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko – has cancelled Filcare Services Limited’s (Filcare) Financial Advice Provider licence, at its request. The company provided financial advice to approximately 1,800 retail clients, many of whom were migrant workers…
BusinessLegalFinancial Markets Financial Markets AuthorityFilcare Services LimitedFinancial Advice Provider licenceHelena LewisFinancial Services Complaints LimitedFinanceNZ Financial Markets Authority
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NZ Retail Spending Slightly Down in May 2025
Spending in New Zealand's retail industries saw a slight dip in May 2025, according to the latest electronic card transactions (ECT) data. Stats NZ reported that overall retail spending decreased by 0.2 percent, a drop of $9.9 million compared to…
BusinessEconomyTradeAustralasia Electronic Card TransactionsRetail SpendingConsumer SpendingEconomic ActivityStats NZFinanceStatistics New Zealand
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Media Monitor: New Zealand Government Announces Spending Cuts
RNZ is reporting that the New Zealand coalition government has cut an average of $5.3 billion in government spending for each of the next four years in its latest budget. It said about half of the savings come from an…
Politics and GovernmentBusinessSportWorldFederal GovernmentEconomyEmployment and LaborRugby Government SpendingBudget CutsKiwiSaverNicola WillisPay EquityFinanceRNZ News
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KiwiSaver Changes in Budget 2025 to Boost Retirement Savings for Many
Budget 2025 will bring changes to KiwiSaver, increasing the amount saved for retirement for many New Zealanders. Employee and employer contributions will rise to 3.5% from April 1, 2026, and then to 4% from April 1, 2028. The government contribution…
Politics and GovernmentBusinessEconomy KiwiSaverBudget 2025Retirement CommissionerJane WrightsonRetirement IncomeFinance
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Reserve Bank Funding Reduced by 25% in New Agreement
The Government and the Reserve Bank board have agreed to a funding agreement that will reduce the bank's budgeted operating expenses by approximately 25% in the coming year. Finance Minister Nicola Willis stated that the new five-year agreement reflects the…
Reserve BankNicola WillisGovernment FundingTreasuryOperating ExpensesFinance