This is
the first time the FMA has proactively cancelled a MIS
manager licence.
James Greig, FMA Director of
Supervision, said the FMA considered FMO’s material
contraventions and determined it was no longer capable of
being a fund manager.
“Cancelling a
licence is one of the strongest regulatory actions we can
take and it’s not a decision we take lightly,” he said.
“It effectively stops a business from operating in the
retail investment sector.”
The FMA
found FMO’s inadequate compliance and governance
arrangements had resulted in continued material breaches of
its licence obligations. These
included:
Disclosure:
Incorrectly calculating and disclosing returns in fund
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Wednesday, 7 July 2021, 2:47 pm
Anniversary
Selection launched on 7 July to mark World Chocolate
Day
Devonport
Chocolates, a locally owned and operated
handcrafted chocolate producer based in Devonport on
Auckland’s North Shore, has launched a special Anniversary
Selection pack to celebrate 30 years of business this
month.
The selection, which comes in two different
sizes, is made up of customers’ favourites and
award-winning chocolates to mark the occasion and includes
the ever-popular Hauraki Salted Caramel, as well as Mango
& Passionfruit, Feijoa & Honey and Summer Gin and
Raspberry.
First established in 1991, Devonport
Chocolates was one of New Zealand’s first artisanal
chocolate producers. Current owners the Everitt family
Wednesday, 7 July 2021, 2:21 pm
The New Zealand Chiropractors’ Association (NZCA)
welcomes the call in a major new report by the New Zealand
Institute for Economic Research (NZIER) for publicly funded
access to chiropractic care for spinal and neural conditions
to be made available to New Zealanders with chronic
conditions.
The report “Hidden In Plain Sight:
Optimising the allied health professions for better, more
sustainable integrated care” was commissioned by Allied
Health Aotearoa New Zealand.
Among the NZIER’s
wide-ranging recommendations for a greater role for allied
health professions in improving the health and wellbeing of
New Zealanders, the report highlights that chiropractic
Wednesday, 7 July 2021, 11:27 am
New Zealand’s Climate Change Commission is facing its
first legal hurdle, as a group of 300
climate-concerned lawyers seek judicial
review of the processes it used to calculate carbon
budgets in its recently released advice
to government.
Carbon budgets are a cornerstone of
New Zealand’s climate change response under the Zero
Carbon Act and lie at the heart of the commission’s
advice package. They specify the allowed emissions over
successive five-year periods, initially up to 2035. The
advice calls for net emissions of all greenhouse gases to
fall 27% between 2019 and 2030.
The Lawyers 4
Climate Action group claims the commission has