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Page last updated: 11 August 2023

Enforcement Activity

In the event of a breach of financial markets legislation, we may intervene on an informal basis or at a low level where such action is proportionate to the misconduct and will achieve an appropriate market outcome. However, where appropriate, we will take strong action and hold individuals and entities accountable when they break the law and fail to meet the standards that are expected of them. If harm has been identified, we may also take regulatory action of some sort even though no ‘rules’ appear to have been broken.

Our enforcement activity can be viewed on this page.

Related:


List: Management bans and undertakings of non-participation
List: NZ finance company collapses (2006–2012)

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Found 130 results. Displaying page 1 of 9

  2. Insider trading

    3 November 2023

    Insider trading case involving Pushpay shares

    The FMA has filed proceedings against two individuals for alleged insider trading in relation to the sale of shares in Pushpay Holdings Limited (NZX:PPH).
  3. Investigations

    1 November 2023

    Former financial adviser Natalie Ann Carter

    Natalie Ann Carter, a former Hawke’s Bay-based mortgage broker, was charged with multiple dishonesty offences following an FMA investigation into her conduct.
  4. Court – civil

    12 October 2023

    Vero

    FMA filed High Court proceedings against Vero Insurance New Zealand Limited for failing to apply multi-policy discounts, which led to affected customers being overcharged approximately $8.7 million in premiums. View the case timeline on this page.
  5. Court – civil

    11 October 2023

    Kiwibank

    The FMA filed High Court civil proceedings against Kiwibank for making false and/or misleading representations, under the fair dealing provisions of the Financial Markets Conduct Act (FMC Act). Read the case timeline on this page.
  6. Court – criminal

    5 October 2023

    Barry Kloogh (Financial Planning Limited and Impact Enterprises Limited)

    Mr Kloogh was offering brokering services to clients through the first defendant, Financial Planning Ltd, and the second defendant, Impact Enterprises Ltd, although neither they nor he was registered to offer broking services. The FMA referred the matter to the Serious Fraud Office.
  7. Stop Order
    Licence cancellation

    18 September 2023

    Wisdom House Investment Partners Limited

    Yuen Pok (Paul) Loo pleads guilty to forgery and financial markets legislation offences. Mr Loo will be sentenced at the Manukau District Court on 20 December 2023. The FMA will comment further at the sentencing decision. 
  8. Formal warning

    11 August 2023

    Enprise Group Limited

    FMA issues a formal warning to Enprise Group Limited (Enprise), for failing to keep proper accounting records.
  10. Court – criminal

    21 July 2023

    Forestlands and director Rowan Charles Kearns

    Rowan Kearns, the founder and sole director of the Forestlands group of companies, was sentenced yesterday to four months’ community detention and 100 hours’ community work with a 9pm – 7am curfew.
  11. Stop Order

    5 July 2023

    Validus and its associated persons

    The FMA has made a permanent stop order that applies to Validus International LLC, Validus-FZCO, and associated persons of Validus, using the FMA’s powers under the Financial Markets Conduct Act 2013.
  12. Formal warning

    29 June 2023

    Tiger Brokers (NZ) Limited

    The Auckland High Court has ordered Tiger Brokers (NZ) Limited to pay $900,000 for breaching the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act 2009, in proceedings brought by the FMA.  
  13. Court – civil

    12 June 2023

    CBL

    FMA has reached agreement with CBL Corporation Limited (In Liquidation) (CBLC) and four of CBL's former directors in respect of the FMA's claims of continuous disclosure breaches and misleading conduct