Page last updated: 09 September 2024

Media releases – 2017

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FMA succeeds in continuous disclosure claims against CBL chief financial officer

FMA wins case against CBL's ex-CFO Carden Mulholland for disclosure breaches—setting precedent on CFO liability under NZ financial law.

Individual ordered to pay compensation and pecuniary penalty for making false or misleading representations

Rangi Wyatt Stephen Savage Senior has been ordered to pay compensation of $126,214 to investors and a pecuniary penalty of $142,500 for breaching the Financial Markets Conduct Act 2013.

FMA issues warning to former FMC auditor

FMA has 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.

Westpac admits to misleading representations that resulted in $6.35m in overcharges

Westpac New Zealand Limited has admitted to misleading customers entitled to advertised discounts as well as overcharging some of its business customers.

FMA seeks clarity from High Court on use of eligible investor certificates in wholesale investment sector

The FMA has filed a case stated proceeding to seek the Court’s determination on legal issues about the use, confirmation, and acceptance, of eligible investor certificates in the wholesale investment sector.

Individual pleads guilty to insider trading charges

Kevin Young, a former accountant with Heartland Bank Limited, has pleaded guilty to insider trading charges brought against him by the FMA.

FMA files civil proceedings against InvestNow for alleged AML/CFT breaches

FMA has filed civil proceedings against InvestNow Saving and Investment Service Ltd, which trades as InvestNow, for alleged breaches of the Anti-Money Laundering and Countering of Terrorism Act 2009 (AML/CFT Act).

FMA censures Pathfinder for misleading representations

FMA censures Pathfinder for misleading KiwiSaver ethical claims on animal testing and fossil fuels, urging transparency in investment advertising.

FMA cancels auditor’s licence to carry out FMC audits for multiple failures

FMA has cancelled the New Zealand licence of Sydney based auditor, Mr Sam Danieli, to carry out FMC audits in New Zealand.

FMA encouraged by first climate statements

The FMA has today published its Climate-Related Disclosures insights report from the first set of entities that were required to file climate statements.

Inaugural Consumer Confidence survey provides valuable insights for FMA and financial services sector

The inaugural Consumer Confidence survey report 2024 from the FMA shows that three quarters of New Zealanders believe financial service providers treat customers fairly.

CBLC update

The FMA welcomes the High Court’s decision last week to dismiss the application to strike out the FMA’s claim against the executor of the estate of former CBLC director Alistair Hutchison.

FMA publishes refreshed Audit Quality Monitoring Report

The FMA’s Audit Quality Monitoring Report for 2023/24, released today, reviewed nine of the 12 registered audit firms in New Zealand and 19 audit files, 10 of which were of listed entities.

FMA publishes Market Cleanliness research report into New Zealand Equity Market

FMA report shows decline in potential market abuse in NZ equity market over 20 years, highlighting improved market cleanliness and investor trust.

FMA publishes 2024 Annual Report

The FMA today published its annual report for the year to 30 June 2024.

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Media releases – 2017