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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.
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.
The FMA alleges that an Eroad employee sent text messages to a former Eroad employee that contained confidential material information relating to Eroad’s performance in the period to 30 September 2015.
The FMA has filed charges against Garry James Patterson alleging he was or was holding out as being, in the business of providing financial services in contravention of the Financial Service Providers (Registration and Dispute Resolution) Act 2008 (FSP Act).
Mr Ryan, also known as Lance Jared Thompson, used the forex platform BlackfortFX as a façade to encourage more than 900 investors, who were mostly from the Christchurch region, to put about $8.3 million in the Ponzi scheme.
FMA has applied for compensation, declarations of civil liability, civil pecuniary penalties against each of the five directors and promoters - Mark Hotchin, Gregory Muir, Sir Tipene O'Regan, Bruce Gordon, Eric Watson and Dennis Broit.
The FMA has issued a formal AML/CFT warning to Fullerton Markets. Read more.
We believed Prince and Partners failed to carry out its role as a supervisor with the care, diligence and skill expected.
The FMA has issued civil proceedings seeking pecuniary penalties against Mr Warminger for trading carried out between January and August 2014.
Wilson admitted three charges of making a false document for pecuniary advantage and one charge of dishonestly using a document for pecuniary advantage.
FMA considered Vivier’s New Zealand FSP registration to be misleading as all its services were mostly in Europe and directed that Vivier be deregistered as an FSP.
We have warned an individual in relation to suspected misleading or deceptive conduct by a registered financial adviser.
FMA initiated civil proceedings against Archer Capital (Pty) Limited and Healthcare Industry Limited (HIL) for alleged breaches of the substantial shareholder disclosure obligations
This proceeding relates to allegations that Messrs Prain and Schroeder, as Directors of Apple Fields Limited failed to deliver financial statements to the Registrar of Companies,
The criminal proceeding brought by FMA relates to allegations of breaches of the Financial Reporting Act, Financial Advisers Act and Financial Service Providers Act. The Serious Fraud Office has also laid separate charges under the Crimes Act against Mr Robinson. Read the timeline of this case.
The FMA conducted an investigation into potential breaches of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 in relation to Craigs.