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.

E+O Property Syndication Limited

Formal warning issued to E+O Property Syndication Limited following concerns about disclosures to investors.

Williams Corporation Capital Partnership GP Limited

Formal warning issued to Williams Corporation Capital Partnership GP Limited following concerns about disclosures to investors.

Wolfbrook Capital Limited

Formal warning issued to Wolfbrook Capital Limited following concerns about disclosures to investors.

AIA

The Auckland High Court has ordered life insurer AIA to pay a pecuniary penalty of $700,000 for making false and/or misleading representations to some customers.

Kalkine

FMA directed Kalkine New Zealand Limited to stop making outgoing sales calls to people in New Zealand following concerns about the entity’s misleading marketing conduct.

Alliant Perpetual

FMA issued an infringement notice to Alliant for failing to file financial statements by their due date.

Western Union Business Solutions (Australia) Pty Ltd

FMA censured Western Union Business Solutions (Australia) Pty Ltd for materially contravening key Standard Conditions of its derivatives issuer licence relating to net tangible assets (NTA).

One Management

FMA made a stop order against The One Management GP Limited regarding an offer in relation to The One Property LP.

CTRL Investments

FMA censured CTRL Investments Limited for contravening the conditions of its derivatives issuer (DI) licence.

Simplicity

FMA directed Simplicity NZ Limited to remove advertising materials that breached fair dealing provisions, and ensure future advertising is compliant.

Jarden Securities Limited

Jarden Securities Limited was formally censured by the FMA for contraventions by OM Financial Limited as a licensed derivatives issuer.

Squirrel P2P Trustee Limited

FMA formally warned Squirrel P2P Trustee Limited for failing to carry out certain obligations as a custodian. The entity provides a custodial service for the peer-to-peer lending service of Squirrel Money Limited.

Medical Kiwi Limited

Medical Kiwi Limited, a medicinal cannabis company, was admitted to breaching the fair dealing provisions of the Financial Markets Conduct Act.

Firma Foreign Exchange Corporation (NZ) Limited

Firma Foreign Exchange Corporation (NZ) Limited was censured after finding it had materially contravened a number of its obligations as a licensed derivatives issuer.

Sharesies Limited and Sharesies Nominee Limited

The FMA has issued a formal warning to Sharesies for purposes of section 80 of Anti-Money Laundering and Countering Financing of Terrorism Act 2009.

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