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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.

Search Results

Found 90 results. Displaying page 1 of 6

  1. 30 June 2025

    Murray McClune

    Former adviser Murray McClune pleads guilty to theft of $1.7M from elderly clients, following FMA investigation. Case proceeded as Crown prosecution after initial jury trial election.

  2. 27 June 2025

    CBL

    The FMA filed two civil proceedings against CBL Corporation Limited and its directors following an investigation into the company’s collapse in 2018. The first proceeding involved breaches of the continuous disclosure provisions of the Financial Markets Conduct Act 2013 (FMCA). A related proceeding brought by the FMA alleges breaches by CBLC in regard to its Initial Public Offering in 2015. A six-week trial is set down for 13 April 2026 in the High Court in Auckland.

  3. 30 May 2025

    Pharmazen

    Pharmazen fined $7,500 by FMA for failing to file 2024 financials on time, breaching FMC Act section 461H requirements.

  4. 22 May 2025

    Jesse Joseph Vaughan

    Jesse Joseph Vaughan & Crypto Partners Ltd offered unlicensed investment schemes, breaching NZ’s Financial Markets Act.

  5. 9 May 2025

    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).

  6. 2 May 2025

    Westpac

    Westpac accepted that it may have contravened fair dealing provisions of the Financial Markets Conduct Act (FMCA) and/or possible breaches relating to consumer credit contracts under the Fair Trading Act (FTA).

  7. 1 May 2025

    Kok Ding Cheng

    Kok Ding Cheng fined $198,000 for trade-based market manipulation of Rua Bioscience shares, breaching FMC Act section 265.

  8. 28 April 2025

    Prem Gounder

    The FMA alleges that Mr Gounder, while acting as a licensed financial adviser, submitted a false document, namely a gifting certificate, in support of a home loan application made on behalf of a client.

  9. 17 April 2025

    Kevin Young

    Kevin Young, a former accountant with Heartland Bank Limited, pleaded guilty to insider trading charges brought against him by the FMA.

  10. 4 April 2025

    IAG

    FMA has filed a civil proceeding against insurer IAG New Zealand Limited (IAG) for fair dealing breaches in relation to its insurance products. Read the background of the case on this page.

  11. 18 March 2025

    David McEwen

    The FMA has filed criminal charges against former financial adviser David McEwen, for failing to comply with an FMA stop order.

  12. 21 January 2025

    Allan Facey

    The FMA has issued a public warning to Mr Allan Facey, a Sydney-based auditor, regarding his conduct as the Engagement Quality Control Reviewer (EQR) for the audit of Alliant Perpetual.

  13. 18 December 2024

    Pathfinder

    The FMA censured Pathfinder Asset Management (Pathfinder) under the Financial Markets Conduct Act 2013 (FMCA).

  14. 11 December 2024

    Sam Danieli

    The FMA cancelled the New Zealand licence of Sydney based auditor, Mr Sam Danieli, to carry out FMC audits in New Zealand.

  15. 10 December 2024

    InvestNow Saving and Investment Service Limited

    The FMA has issued a formal warning to InvestNow Saving and Investment Service Limited for failing to comply with the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act.