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.

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

View the history of the case relating to the FMA cancelling the Rockfort Markets Derivative Issuer licence along with the Judgment issued by the Court of Appeal.

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

The FMA has censured EC Markets Financial Limited (trading as EC Markets), previously known as CTRL Investments Limited for breaching the obligations of its Derivatives Issuer licence.

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

The FMA has censured Auckland-based financial services firm deVere New Zealand Limited (deVere) for failing to comply with obligations under its Financial Advice Provider licence.

Vero

Vero Insurance admitted failing to apply multi policy discounts leading to overcharges and a court ordered penalty following FMA proceedings.

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.

Rangi Wyatt Stephen Savage

FMA filed civil proceedings against Rangi Wyatt Stephen Savage for making an unregulated public offer for the sale of shares in The Powder Shed Tokoroa Limited (Powder Shed).

Natalie Ann Carter

Between 2018 and 2020, former financial adviser, Ms Carter created various false documents for the purpose of obtaining home loans for herself and two clients.This page documents the case against Ms Carter.

Wisdom House Investment Partners Limited

FMA charges Yuen Pok Paul Loo for forgery unregistered financial services and breaching stop orders involving Wisdom House Investment Partners.

Medical Assurance Society New Zealand Limited (MAS)

Details of the case filed in the High Court against Medical Assurance Society New Zealand Limited (MAS) can be found on this page.

Barry Kloogh (Financial Planning Limited and Impact Enterprises Limited)

Dunedin-based financial adviser Barry Kloogh and Impact Enterprises Ltd were offering brokering services to clients although they were no registered to offer broking services.

Enprise Group Limited

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

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.

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Enforcement Activity