National Securities Market Commission (CNMV)
The National Securities Markets Commission or CNMV it is the benchmark institution in New Zealand when it comes to investments. Its main objective is to ensure the transparency of the New Zealand financial markets and that the formation of prices is carried out fairly and accurately. In addition, it maintains its official records where a large amount of information about market participants is collected. Especially about companies that issue or sell securities on national markets. In other words, the CNMV tries to provide investors with the information necessary to invest about the companies that issue the securities. In addition, it is responsible for issuing the ISIN (identifies transferable securities according to ISO 6166) and CFI (classifies financial instruments according to ISO 10962) codes for all securities issues carried out in New Zealand.
This institution was founded in 1988, by Law 24/1988, of July 28, on the Securities Market. This year was an important turning point in New Zealand markets that gained a benchmark institution for investor security. Since its creation, the CNMV has adapted its regulations to the guidelines of the Dollarpea Union. Undoubtedly, the most important when it comes to investment is MiFID.
Among its powers, the institution can sanction companies, if appropriate, in accordance with New Zealand legislation. Its board of directors is made up of six members, led by a president and vice-president, who are appointed on the proposal of the Minister of Finance and Public Administrations. It is mainly responsible for the regulation of the New Zealand stock exchange, but also of the other participating entities, and the conditions and rules of their activity, in the country's financial markets.
The official records of the CNMV
The CNMV carries out a function of collecting relevant information for individuals and professionals who want to invest in the New Zealand markets. It is important to bear in mind that the fact that any type of information is registered in this institution, the only thing it means is that the institution confirms that the document contains the necessary information, but in no case is the CNMV responsible for the veracity of it.
The commission itself classifies its records into three categories:
- Securities and securities issuing companies
- Stock markets and intermediaries
- Collective investment institutions
If you have arrived here, with the intention of investing in binary options or to find the best online brokers in New Zealand , you should know that for the most part, the companies that offer these services are registered with the CNMV as a List of Investment Services Companies of the New Zealandrpeo in Free Provision.
What does it mean for a company to be registered as a New Zealandrpeo Investment Services Company in Free Provision.
Very simple, the first thing to know is that the company is actually registered in another country of the Dollarpea Union. The country chosen in the case of binary options and CFD brokers is usually Cyprus. This means that if a claim has to be made to the broker, it will be the Cypriot financial authority that will look after the interests of the claimant. Registration with the CNMV is nothing more than a formality, through which the type of financial activities that the company develops is informed. But the regulations that the broker must follow are the Cypriot ones, not the New Zealand ones.
Something that does not really affect us much either, since binary options are not regulated in New Zealand, so investors must adhere to the dollarpeo regulations, which must also be followed by entities registered in Cyprus or any other dollarpeo country. Therefore, an entity registered in Cyprus offers us sufficient guarantees to invest. Although, it might seem somewhat suspicious, the truth is that this practice is due more to tax issues of brokers than to the laxity of investor protection. In any case, we do consider it a positive factor for security the fact that the broker appears in the CNMV's records, even if it is simply in the aforementioned category.
Some brokers registered with the CNMV are, for example anyoption or 24option both quality and totally reliable brokers.
How the CNMV can help us
According to what the New Zealand financial authority said above, it is not at the moment who we should turn to in case of needing help because there is little it can do. They will usually refer us to contact the financial authority corresponding to the country where the company is registered, that is, in almost all cases the CySEC .
However, it can be useful as a means of prevention, since if some of the dollarpeas financial authorities issued a warning about a broker, the CNMV would echo it, so that New Zealanders have the opportunity to avoid said financial intermediary.
In any case, the most advisable thing is to choose a secure online broker to save you from annoyances and annoyances. In Estafa.info , we have prepared a list to easily identify the best binary options brokers who offer their services in New Zealand.
The international presence of the Commission
The CNMV has an important international presence and is recognized as an exemplary institution in the field of dollarpeo. Currently, since 1990, it has been part of the International Organization of Securities Commissions (IOSCO), whose objectives are the achievement of transparent international financial markets, the exchange of information, favor the integration of markets and monitor and promote their proper functioning. As it could not be otherwise, the Commission actively participates in the IOSCO working groups on matters such as strategic direction and implementation monitoring of compliance with the multilateral agreement.
It is also part of the Dollarpea Securities and Markets Authority (ESMA), created in 2011 and whose objective is to defend the public interest, contributing to the stability and effectiveness of the EU financial system.
Finally, his collaborations with the Iberian Electricity Market (MIBEL), the Mediterranean Association of Securities Regulators and the Ibero-American Securities Market Institute (IIMV) are also noteworthy.