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Securities Act (Global Investment Services Limited) Exemption Notice 2013

Securities Act (Flight Centre (NZ) Limited) Exemption Notice 2013

Securities Act (Credit Agricole S.A.) Exemption Notice 2013

Securities Act (Benvale Park Limited) Exemption Notice 2013

Rowan Kearns Judgment.

The High Court struck out a claim that had been brought against it by an investor in Du Val Property Group Ltd, who alleged the Financial Markets Authority (FMA) had breached duties of care owed to Lindeman either by effectively approving a debt for equity swap or failing to warn investors who took up the swap. The Court struck out the claim and confirmed the FMA is required to exercise its regulatory functions in the general public interest and does not owe common law or statutory duties of care to individual investors when performing its functions.

The FMA commissioned PwC’s behavioural science team to examine KiwiSaver switching behaviour during the height of COVID-19 market volatility, with data provided by 11 KiwiSaver providers.