Page last updated: 09 September 2024

Media releases – 204

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Statement of clarification on Abano Healthcare Group Ltd (NZX:ABA)

The Financial Markets Authority (FMA) today clarified statements that have apparently been made in communications with shareholders in Abano Healthcare Group Ltd.

FMA confirms settlement with Strategic Finance Directors and Auditors

FMA and the Receivers of Strategic, John Fisk and Colin McCloy of PwC, have finalised a settlement with the directors and auditors of Strategic. Under the terms of the settlement, the directors and auditors will pay to the Receivers of Strategic $22 million. Read more.

FMA issues formal warning to St Laurence directors - investigation closed

The Financial Markets Authority (FMA) has closed its investigation into St Laurence Limited (in liquidation) and has formally warned eight directors of St Laurence Limited in respect of potential breaches of the Securities Act.

Middle-income earners much more confident in New Zealand’s financial markets

A Financial Markets Authority survey of New Zealanders’ attitudes to financial markets, released today, has found confidence in our financial markets is growing. Overall confidence has risen five points to 59 percent from 54 percent in 2013.

Finance company legal adviser found guilty of fraud

Hugh Edward Staples Hamilton (62) has been found guilty at the Auckland High Court of 14 charges arising out of the collapse of Belgrave Finance Limited. Read more.

Cultural shift in financial services underway as once-in-a-generation Financial Markets Conduct Act takes effect

The Chief Executive of the Financial Markets Authority, Rob Everett, says a long-term cultural shift – for the better – is underway in New Zealand financial services as the new Financial Markets Conduct Act 2013 takes effect.

Survey shows investors look forward to easy-to-follow IPO offer documents

A New Zealand investor survey conducted on behalf of the Financial Markets Authority and NZX shows there is good support for companies making initial public offerings (IPOs) among those who have invested in recent IPOs.

Investors better informed about low ball offers

FMA says in a report that new regulations are assisting investors to make better informed decisions about unsolicited or low ball offers. The report also acknowledges that companies whose investors have been targeted have contributed to investors being better informed.

FMA files criminal charges following investigation into Viaduct and Mutual

The Financial Markets Authority has filed charges under the Crimes Act and under the Companies Act against directors and another of Viaduct Capital Limited (in receivership) and Ex-MFL Limited (in Receivership) (formerly Mutual Finance Limited).

Bridgecorp settlement

The FMA has consented to an $18.9 million settlement between the receiver of Bridgecorp, the Bridgecorp directors, and their liability insurers. FMA has agreed to end its own civil proceedings against the Bridgecorp directors once the settlement sum has been paid. Read more.

Contributory mortgage broker pleads guilty

Prudential Mortgage Limited, a contributory mortgage broking firm, has been convicted and fined $2,000 for failing to deliver its annual report to the Registrar of Companies by 30 June 2013. Prudential pleaded guilty to the charge laid by the FMA. Read more.

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