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Regulation

FMA Flags YouTube-Based Crypto Scam as Digital Fraud Surges

  • The FMA has uncovered a widespread cryptocurrency scam operating through YouTube channels and messaging apps.
  • Fraudsters use fake trading platforms to steal funds after gaining victims' trust through social media engagement.
Monday, 16/12/2024 | 07:54 GMT by Damian Chmiel
Regulation

Warning: Clone Broker Targets Investors with Fake CySEC and FSCA Licenses

  • The New Zealand FMA has warned about Mic-Market, which falsely claims to be registered in multiple jurisdictions.
  • As Finance Magnates learned, the company cloned the licensed Cypriot broker Colmex's website and credentials.
Tuesday, 03/12/2024 | 07:18 GMT by Damian Chmiel
Regulation

This New Zealand Broker Loses License after 5 Years Battling the Regulator

  • Rockfort Markets has been stripped of its derivative issuer license.
  • High Court upholds FMA decision citing multiple material contraventions.
Monday, 09/09/2024 | 07:39 GMT by Damian Chmiel
Retail FX

Fake Celebrity Ads for Crypto and FX Trading Scams Catch Kiwi Regulator’s Attention

  • Scammers are running sophisticated fake celebrity endorsements to promote fraudulent schemes.
  • A neighbouring Aussie regulator has also issued a similar warning recently.
Monday, 13/05/2024 | 06:36 GMT by Arnab Shome
Regulation

FMA Cracks Down on These Two Companies amid Fraud Concerns in New Zealand

  • The local market watchdog canceled Equitise's crowdfunding license granted ten years ago.
  • In addition, it warned against the cryptocurrency trading provider AxonExchange.
Wednesday, 17/04/2024 | 07:12 GMT by Damian Chmiel
Retail FX

New Zealand's Fraud Victims Tricked by the Fake UK's FCA Financial Emails

  • FMA cautions against fraudsters impersonating the UK's FCA.
  • They offer alleged assistance in recovering funds lost in previous scams.
Tuesday, 30/01/2024 | 08:50 GMT by Damian Chmiel
Retail FX

Alert: NZ FMA Adds Five Fraudulent Firms to Caution List

  • FMA is one of the most active regulators in the financial markets.
  • Despite the high level of warnings, the number of scams in NZ is reportedly decreasing.
Wednesday, 13/12/2023 | 09:56 GMT by Damian Chmiel
Retail FX

Financial Scams on the Decline in New Zealand, FMA Finds

  • The market watchdog reported a decrease in financial scams in New Zealand since mid-2022.
  • However, there was a rise in imposter websites and fake regulators.
Tuesday, 05/12/2023 | 12:03 GMT by Damian Chmiel
Retail FX

News Nuggets | 21 November: FCA and FMA Warns against Clones and Fraudsters

  • Also, ASIC published enforcement plan; Plaid hires Adyen executive.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Tuesday, 21/11/2023 | 10:21 GMT by Damian Chmiel
Retail FX

News Nuggets | 30 October: HSBC's $3B Share Buyback; Railsr $24M Funding Round

  • Also, Laser Digital and Nomura debuted in The Sandbox metaverse; MAS partnered for digital assets innovation.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Monday, 30/10/2023 | 10:37 GMT by Finance Magnates Staff
Retail FX

News Nuggets | 25 October: DCG Earnings Surge with BTC; FMA Alerts on Social Ads

  • Also, SEC charges BlackRock; Temenos reports strong Q3 perfromance.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Wednesday, 25/10/2023 | 09:26 GMT by Finance Magnates Staff
Retail FX

News Nuggets | 21 September: Bitget Wallet Expands Offering; FMA Warns against IM Academy

  • Also, Tether backs AI chip purchase; Alpha Group professes to LSE main market and Cornerstone sells non-trading subsidiary.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Thursday, 21/09/2023 | 10:00 GMT by Finance Magnates Staff
Retail FX

News Nuggets | 18 September: OctaFX Adds Share Trading; XTB Unveils Brand Campaign

  • Also, the FMA issues a warning against clone firm; Broadridge offers new swift services.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Monday, 18/09/2023 | 08:51 GMT by Finance Magnates Staff
Retail FX

News Nuggets | 30 August: SEC Charges Citigroup; FMA and FCA Warn against Clone Websites

  • Also, Bybit launches revamped 'Launchpad 3.0'; Nasdaq Announces CFO Transition.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Wednesday, 30/08/2023 | 09:33 GMT by Finance Magnates Staff
Retail FX

News Nuggets | 1 August: Meta to Launch 'Personas' AI Bots; Conotoxia Shows New Feature

  • Also, Paul Turner Joins Capex; HSBC doubles its net profit.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Tuesday, 01/08/2023 | 09:27 GMT by Finance Magnates Staff
Retail FX

FMA Stops Firm Promising 350% Returns on FX and Crypto in 60 Weeks

  • The High Court rejected Validus' appeal.
  • The company can no longer offer its 'educational packages’.
Wednesday, 05/07/2023 | 07:17 GMT by Damian Chmiel
Retail FX

New Zealand’s FMA Orders Tiger Brokers to Pay $900k for AML/CFT Breaches

  • The Australian court has fined Tiger Brokers for breaching the AML and CFT law.
  • The case concerns violations between 2019 and 2020.
Thursday, 29/06/2023 | 07:38 GMT by Damian Chmiel
Op-ed
Op-ed
FinTech
Op-ed
Op-ed

With New Rules in Place, Vanuatu Wants to Become the Next Cyprus

  • A core group of 60 brokers remain after licensing rules were strengthened.
  • Industry insiders cite Cyprus as an inspiration for Vanuatu’s future.
Thursday, 22/06/2023 | 13:00 GMT by Nicolas Ritoux
Retail FX

News Nuggets | 28 March: FMA Flags CFDs Broker; AI in Portfolio Management

  • Also, CMC Markets, Binance, and CobaltFX.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Tuesday, 28/03/2023 | 06:53 GMT by Finance Magnates Staff
Executives

Binance's VP Joins New Zealand's FMA as Executive Director

  • Trinder worked for the most prominent financial institutions and organizations in the world.
  • After 11 months in Binance, he is moving to New Zealand to support FMA's strategic work.
Monday, 13/03/2023 | 09:41 GMT by Damian Chmiel
Retail FX

New Zealand’s FMA Reports 17% Increase in Investment Scams in 2022

  • FMA disclosed the rising number in its 2022 Annual Report for the year ended June 2022.
  • The regulator recently accused Tiger Brokers' local subsidiary of AML/CTF violations.
Tuesday, 24/01/2023 | 16:02 GMT by Solomon Oladipupo
Retail FX

FMA Takes Tiger Brokers to Court for AML/CFT Breaches

  • The enforcement action came after a formal warning in March 2020.
  • The regulator is seeking a pecuniary penalty of NZ$900,000.
Wednesday, 21/12/2022 | 07:30 GMT by Arnab Shome
Retail FX

FMA Warns against Crypto Fraudsters and Impersonators

  • Bay Exchange was providing crypto services without proper authorization.
  • Krypto Security was trying to impersonate the FMA's officials and extort consumer funds.
Monday, 12/12/2022 | 09:24 GMT by Damian Chmiel
Retail FX

FMA Warns against Fraudster Impersonating the Regulator

  • Scammer tries tricking consumers and investors into pretending to be a regulatory clerk.
  • The FMA warned of impostors four times in October 2022.
Tuesday, 25/10/2022 | 08:58 GMT by Damian Chmiel
Retail FX

New Zealand Regulator Censures Western Union for License Breaches

  • The company failed to maintain net tangible asset requirements at certain times.
  • However, it maintained the ability to replenish the required NTA levels.
Tuesday, 19/07/2022 | 06:29 GMT by Arnab Shome
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