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.

AA Insurance Limited (AAI)

FMA case against AA Insurance for misleading discount practices and customer overcharging leading to High Court penalty and system failures

Insider trading case involving Heartland Group Holding Limited shares

The FMA alleges the individual traded, and encouraged others to trade or hold, HGH shares on several occasions between July 2020 and February 2021

Rockfort Markets

The FMA cancelled Rockfort Markets licence after repeated material breaches misleading advertising failures and unsuccessful High Court appeals

Integrity Advisers Insurance Limited

The FMA has cancelled Integrity Advisers Insurance Limited’s (Integrity) Financial Advice Provider (FAP) licence for engaging in serious misconduct.

EC Markets previously known as CTRL

FMA censure of EC Markets previously CTRL for Derivatives Issuer licence breaches, including NTA shortfalls and late assurance and NTA reporting.

Oceania Natural Limited (ONL) and associated individuals

Auckland High Court issues Judgment against Wei (Walker) Zhong and Lei (Regina) Ding. View the history of the case on this page.

deVere

FMA censure of deVere New Zealand for Financial Advice Provider licence breaches involving record keeping, suitability and client understanding.

Vero

Vero Insurance New Zealand was penalised for failing to apply multi policy discounts leading to overcharges and breaching fair dealing obligations.

Matthew Hill

The FMA accused Matthew Geoffrey Hill, the former Chief Executive Officer of NZX-listed New Talisman Gold Mines Limited, of alleged information-based market manipulation, and making false and misleading representations. View the case timeline on this page.

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Enforcement Activity

AA Insurance Limited (AAI)

Insider trading case involving Heartland Group Holding Limited shares

Rockfort Markets

Integrity Advisers Insurance Limited

EC Markets previously known as CTRL

Oceania Natural Limited (ONL) and associated individuals

deVere

Vero

Matthew Hill

Rangi Wyatt Stephen Savage

Natalie Ann Carter

Wisdom House Investment Partners Limited

Medical Assurance Society New Zealand Limited (MAS)

Barry Kloogh (Financial Planning Limited and Impact Enterprises Limited)

Enprise Group Limited