FMA wants to prevent ‘Robinhood style’ trading

FMA wants to prevent ‘Robinhood style’ trading
Online trading platform Robinhood restricted trading in Gamestop shares after retail traders targeted the stock. (Image: Getty)
Dan Brunskill
The Financial Markets Authority is happy with how retail investment platforms are operating in New Zealand but is watching for poor behaviour seen overseas.The regulator conducted a survey of 2,000 platform users to give it a better idea of how people were investing and what risks they faced.Results from the survey were largely positive, showing the majority of investors were not day-trading and were highly motivated to learn about building wealth.However, it also found investors were strongly influenced by the fear of missing out (FOMO) and th...

More Markets

Carbon prices wilt as market waits for govt signals
Policy

Carbon prices wilt as market waits for govt signals

Climate Change Commission advice eagerly awaited.

AVJennings understated revenue from NZ operations by A$12m
Markets

AVJennings understated revenue from NZ operations by A$12m

Developer picked the mistake up through the half-year period.

Wild ride in store for the New Zealand dollar
Economy

Wild ride in store for the New Zealand dollar

A rate hike would likely give the New Zealand dollar a big lift. 

NZ shares flat as earning season rolls on
Markets Market close

NZ shares flat as earning season rolls on

The S&P/NZX 50 Index closed at 11730.88, down 9.931 points or 0.08%.

Gregor Thompson 26 Feb 2024