NZFMA Dealer Accreditation case studies
NZFMA Dealer Accreditation · Put your knowledge to work in context.
The NZFMA Dealer Accreditation is a New Zealand credential for people who deal in financial products or advise on them under the Financial Markets Conduct Act 2013 (FMC Act). It is aimed at dealers, authorised body advisers, compliance and supervision staff, and front-office staff at licensed providers who need to show they understand the FMA licensing regime and the conduct standards that go with it. The NZFMA Dealer Accreditation case studies are 5 cases and about 4,359 words.
1Wholesale-Only Licence and a Retail Onboarding Funnel
Takutai Capital Ltd holds an FMA market services licence for dealing in derivatives. The licence is subject to a condition that services are provided only to wholesale clients, and the firm must obtain a written wholesale certification before onboarding.
897 words, about 4 min2Former Pacific Minister, a Family Trust and Source of Wealth
Mr R, a former finance minister of a Pacific island nation, applies to open a derivatives account with a New Zealand dealer. He provides a passport and a utility bill showing a local address.
866 words, about 4 min3Price Improvement, Proprietary Inventory and a Client Limit Order
At 10:02 on 14 June, client A places a limit order to buy 100,000 XYZ 2029 bonds at 98.50. The dealer has a proprietary inventory position in XYZ, and another client, B, has a sell order for 60,000 at 98.40.
862 words, about 4 min4Six Unauthorised Trades, a Missed Complaint Deadline and the FMA
On 3 February, Mr K emails his dealer saying that between 10 and 20 January his adviser placed six trades without instructions, losing NZ$18,000. He asks for a full refund and copies the FMA.
857 words, about 4 min5A Board Seat, a Bond Issue and Personal Trading
Ms T is a senior dealer at a New Zealand firm and a non-executive director of Kōwhai Rail Ltd, an unlisted infrastructure company. Kōwhai plans a NZ 30 million bond issue.
877 words, about 4 min