Page last updated: 09 September 2024

Media releases

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FMA appoints Louise Unger as Executive Director, Response and Enforcement

FMA appoints Louise Unger as Executive Director of Response and Enforcement, bringing extensive legal, risk, and financial services experience.

FMA cancels crowdfunding services licence for Equitise

The FMA has cancelled the crowdfunding services licence of Equitise Pty Ltd (Equitise). The cancellation took effect on 3 April 2024.

FMA introduces new standard condition on business continuity and technology systems plus new process for reporting operational incidents

FMA sets new standard for business continuity and tech resilience, requiring incident reporting within 72 hours and secure online notification by July 2024.

FMA opens consultation on potential class exemption for certain green, social, sustainability, and sustainability-linked bonds

FMA issues a consultation in response to industry request for a more efficient route to market for green, social and sustainability bonds.

FMA warns Southern Cross Medical Care Society and Southern Cross Pet Insurance for Financial Markets legislation breaches

FMA has issued warnings to Southern Cross Medical Care Society (SCMCS) and Southern Cross Pet Insurance (SPCI) for failing to apply advertised discounts to each entities’ respective insurance products.

CBL managing director Peter Harris admits continuous disclosure and fair dealing contraventions and agrees Enforceable Undertaking

The FMA has reached agreement with former CBL Corporation Limited (In Liquidation) (CBLC) managing director Peter Harris on claims relating to continuous disclosure breaches and misleading conduct (the Continuous Disclosure Proceeding). 

Natalie Carter sentenced to 12 months home detention for forgery and financial markets legislation offences

Natalie Ann Carter, a former Hawke’s Bay-based mortgage broker, has been sentenced to 12 months home detention following a criminal prosecution brought by the Financial Markets Authority (FMA).

FMA files proceedings against Tower Limited for alleged fair dealing breaches

FMA has filed civil proceedings against Tower Limited (Tower) for failing to apply multi policy discounts to eligible customers’ premiums, resulting in approximately $9.5 million* in overcharges.

Yuen Pok (Paul) Loo sentenced for forgery and financial markets legislation offences

Yuen Pok (Paul) Loo has been sentenced in the Manukau District Court following a prosecution brought by the FMA.

Matthew Hill admits breaching Financial Markets legislation

The FMA confirmed Matthew Geoffrey Hill, the former CEO of NZX-listed New Talisman Gold Mines Limited, has admitted making false and misleading representations in breach of FMCA.

Changes to FMA executive leadership team

The FMA said today that Paul Gregory, Executive Director, Response and Enforcement has resigned and accepted a role with ANZ Investment Management.

CBL Corporation and four independent directors ordered to pay penalties for conduct including reckless and careless breaches of the Financial Markets Conduct Act

CBL Corporation and four ex-directors fined $8.88M for misleading conduct and disclosure breaches, marking FMA’s first major case under the FMC Act.

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