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.

PTT Limited, Steven Robertson and related parties

Four companies were placed in liquidation over breach of financial markets legislation and case filed under Crimes act against Steven Robertson with the trial due in May 2019.

Pegasus Markets Limited and Director Michael Reps

The FMA alleges Pegasus Markets Limited continued to hold out on two different websites that it was registered on the FSPR after it had been deregistered and despite subsequent warnings from Companies Office.

Rodney McCall and Morgan Cooper Limited

The FMA alleges Mr McCall contacted people and convinced them to ‘invest’ by transferring money into bank accounts he controlled.

Fund Managers Otago (FMO)

The FMA cancelled the FMO’s MIS licence after finding its inadequate compliance and governance arrangements had resulted in continued material breaches of its licence obligations.

CLSA Premium New Zealand Limited (CLSAP NZ)

CLSA Premium New Zealand Limited (CLSAP NZ) was ordered to pay a total pecuniary penalty of $770,000 for breaches of the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act, following proceedings brought by the FMA.

ANZ Bank New Zealand Limited

FMA filed proceedings against ANZ for false and misleading representations over credit card insurance charges.

Circle Markets Limited

FMA has issued a formal warning to a non-licensed derivatives issuer and forex provider, Circle Markets Limited, under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT).

Eoin Malcolm Miller Johnson

Eoin Malcolm Miller Johnson, a former director and chairman of NZX-listed Promisia Integrative Limited (PIL), admitted to insider trading conduct and breaching a director’s disclosure obligations.

Viaduct Capital & Mutual Finance

Paul Bublitz was found guilty of four charges of theft by a person in a special relationship and two charges of false statement by a promoter.

Syndicated Trusts Limited

The FMA has issued a Stop Order against Syndicated Trusts Limited (STL), ordering the company to stop advertising or accepting money for financial products.

Morgan DeVere Corporate Finance Limited and director Rene Moorby

These charges relate to Morgan DeVere Corporate Finance Limited and Director Rene Moorby for breaches of the Financial Service Providers (Registration and Dispute Resolution) Act.

Mark Stephen Talbot

Mr Talbot has offered this enforceable undertaking following an investigation made by the FMA into his trading of shares in VMob Group Limited (VMob). Read more.

PCC decision - Richard Owen Dey and Michael Derek Wood

The Professional Conduct Committee of the Chartered Accountants Australia New Zealand (CA ANZ) has published its findings in relation to Richard Owen Dey and Michael Derek Wood.

Robert Ian South and Murray Byron Provan

Two men, Robert Ian South and Murray Byron Provan, face various charges under the Crimes Act.

Investigation of potential disclosure breaches during the failure of Wynyard Group Limited

Wynyard investigation report 2018 sets out the Financial Markets Authority’s conclusions following an investigation into the compliance of Wynyard Group Limited with its continuous disclosure and fair dealing obligations.

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