Enforcement Activity

The FMA filed two civil proceedings against CBL Corporation Limited and its directors following an investigation into the company’s collapse in 2018. The first proceeding involved breaches of the continuous disclosure provisions of the Financial Markets Conduct Act 2013 (FMCA). A related proceeding brought by the FMA alleges breaches by CBLC in regard to its Initial Public Offering in 2015. A six-week trial is set down for 13 April 2026 in the High Court in Auckland.

Jesse Joseph Vaughan & Crypto Partners Ltd offered unlicensed investment schemes, breaching NZ’s Financial Markets Act.

Westpac misled customers entitled to advertised discounts resulting in overcharges and penalties after failing to correctly apply fee discounts.

FMA alleges former adviser Prem Gounder submitted a false gifting certificate in support of a clients home loan application

The FMA issued a public warning to Mr Allan Facey, a Sydney-based auditor, regarding his conduct as the Engagement Quality Control Reviewer (EQR) for the audit of Alliant Perpetual.

The FMA cancelled auditor Sam Danieli licence for multiple failures in the Alliant Perpetual audit including lack of evidence and scepticism

The FMA has filed civil proceedings against ASB Bank Limited for allegedly making false or misleading representations.