Tuesday, 29 March 2011
Anti-money laundering risk assessment released
Financial institutions and casinos now have access to information about potential money laundering risks in their sector following the release of Sector Risk Assessments today.
Thursday, 24 March 2011
Whimp partnerships injuncted at Securities Commission's request
The High Court, on application from the Securities Commission, has today granted interim injunctions to stop shares being transferred to limited partnerships associated with Mr Bernard Whimp.
Friday, 18 March 2011
Securities Commission orders Whimp partnerships to correct 'low ball' offers
The Securities Commission has today made orders against limited partnerships associated with Mr Bernard Whimp.
Commission warns about more unsolicited offers
The Securities Commission is alerting investors to be wary of further unsolicited offers for shares which have been brought to its attention following a warning it issued yesterday.
Guide for trans-Tasman mutual recognition of securities offerings updated
The Australian Securities and Investments Commission (ASIC) and New Zealand Securities Commission have jointly published updated guidance for Australian and New Zealand issuers offering shares, debentures or interests in managed or collective investment schemes in both countries.
Thursday, 17 March 2011
Commission issues warning on unsolicited offers from Carrington Securities and Energy Securities LP
The Securities Commission is warning investors to be very wary of any unexpected offers they may receive for their shares or other investments.
Monday, 14 March 2011
First QFEs granted
The first Qualifying Financial Entities (QFEs) licences have been granted today signalling the next step in the implementation of the new financial advisers regulatory regime.
Wednesday, 23 February 2011
Securities Commission and Nuplex reach settlement
In April 2010, the Securities Commission commenced civil proceedings against Nuplex Industries Limited and six of its present or past directors, John Hirst, Robert Aitken, Barbara Gibson, David Jackson, Bryan Kensington and Michael Wynter.
Wednesday, 2 February 2011
Commission takes action against Insured Group
The Securities Commission has commenced civil proceedings against Insured Group Limited, formerly known as Lombard Group Limited, in relation to alleged breaches in 2007 and 2008 of the continuous disclosure provisions of the Securities Markets Act 1988.
Friday, 24 December 2010
New conditions for Qualifying Financial Entities
The Securities Commission has published the standard conditions Qualifying Financial Entities (QFEs) will need to abide by when their employees and representatives give financial advice.
Friday, 17 December 2010
Warning: IRA NRG NZ Limited (INNL) investment statement banned
The Securities Commission has banned INNL's investment statement following the banning of INNL's website earlier this month.
Saturday, 4 December 2010
Commission releases information on finance company investigations
The Securities Commission today released information about the status of its investigations into 50 failed finance companies.
Wednesday, 17 November 2010
Commission's review highlights continuing need for greater transparency
The Securities Commission's latest review of financial reporting standards continues to highlight the need for a greater focus on transparency.
Wednesday, 29 September 2010
Commission consults on standard conditions for QFEs
The Securities Commission invites submissions on proposed standard conditions for financial adviser businesses that apply for Qualifying Financial Entity (QFE) status.
Thursday, 9 September 2010
Commission consults on standard conditions for advisers
The Securities Commission invites submissions on proposed standard conditions for Authorised Financial Advisers (AFAs).
Monday, 6 September 2010
Updated guide for financial entities
The Securities Commission today released an updated edition of its QFE Adviser Business Statement Guide reflecting changes to the Financial Advisers Act.
Friday, 3 September 2010
New designated settlement system
The Reserve Bank of New Zealand and the Securities Commission today announced that the newly established NZCDC Settlement System has been declared a designated settlement system under Part 5C of the Reserve Bank of New Zealand Act.
Thursday, 2 September 2010
Draft Code to Minister for approval
The Commissioner for Financial Advisers, David Mayhew has approved the draft Code of Professional Conduct for Authorised Financial Advisers, and sent it to the Minister of Commerce, Hon Simon Power for his approval.
Wednesday, 11 August 2010
Warning: Unsolicited offer for DNZ Property Fund Limited shares
Shareholders in DNZ Property Fund Limited should be wary of an offer by Carrington Securities LP to buy their shares for $0.60 per share.
Friday, 30 July 2010
Commissioner for financial advisers receives draft code of professional conduct
The Commissioner for Financial Advisers, David Mayhew, today received from the Code Committee the draft code of professional conduct for authorised financial advisers for his approval under the Financial Advisers Act 2008.
Wednesday, 28 July 2010
Issuers could improve corporate governance reporting
The Securities Commission's latest review of corporate governance reporting shows that while most issuers are doing well, many need to improve their disclosures when it comes to ethical standards, directors and executive's remuneration, risk management, and shareholder and stakeholder relations.
Warning: Unsolicited offer for Dorchester Finance debentures
Debenture-holders in Dorchester Finance Limited should be wary of an offer by Stock & Share Trading Company Pty Limited to buy their debentures for 5c in the dollar.
Friday, 16 July 2010
Finance & Investments Partners Enforceable Undertaking
The Securities Commission has accepted enforceable undertakings from the partners of Finance & Investments, Mr Andrew Harding and Mr Murray Scholfield.
Wednesday, 7 July 2010
Dominion and North South Finance directors charged
The Securities Commission has laid criminal charges and issued civil proceedings against Dominion Finance Group Limited and North South Finance Limited directors Vance Arkinstall, Richard Bettle, Terence Butler, Ann Butler, Paul Forsyth and Robert Barry Whale.
Friday, 25 June 2010
No conflict of interest
An article in Fairfax Media publications this morning wrongly reports that Simon Botherway has declared a "potential conflict of interest" in relation to Mr Allan Hubbard.
Financial advisers urged to get ready for regulation
The Commissioner for Financial Advisers, David Mayhew, today urged advisers to get ready for the new regulatory regime.
Tuesday, 22 June 2010
Securities Commission welcomes Commerce Commission settlement with ANZ and ING
The Securities Commission welcomes the settlement achieved between the Commerce Commission and ANZ National Bank Limited (ANZN) and ING (NZ) Limited (ING).
Monday, 14 June 2010
Investment adviser and broker banned
Former Timaru-based investment adviser Neville Ian Cant, found guilty of forgery and theft, is banned from operating as an adviser or investment broker for five years.
Friday, 11 June 2010
Warning: Further unsolicited offer for Strategic Finance debentures
Debenture-holders in Strategic Finance Limited should be wary of an offer by Stock & Share Trading Company Pty Limited to buy their debentures for 5c in the dollar.
Friday, 4 June 2010
Guide for Authorised Financial Advisers released
The Securities Commission today released the AFA Adviser Business Statement Guide to help financial advisers prepare for the new regulatory regime.