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Undertakings

Enforceable undertakings are written undertakings by parties that have been accepted by the Financial Markets Authority under section 46 of the Financial Markets Authority Act 2011. They are enforceable by the Court if a party fails to fulfil the undertaking.

Generally a party that offers FMA an enforceable undertaking has acknowledged non-compliance with securities law or financial markets legislation, and agreed to take specific steps to address the breach.

FMA will accept an enforceable undertaking when we consider this to be the most appropriate outcome. Accepting an undertaking does not prevent FMA from exercising any of our other enforcement powers.

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Found 22 results. Displaying page 1 of 2

  1. 12 April 2016

    Enforceable undertaking from Stephen Duff

    On 11 April 2016, Stephen Duff (also known as Nick Duff) offered, and the FMA accepted, the attached Enforceable Undertaking pursuant to section 46 of the Financial Markets Authority Act 2011. The Undertaking provides that for the next five years Mr Duff will not: Provide financial advice; Otherwise deal with client investments; Receive client money on behalf of clients or third parties; and/or Serve as a director (or carry out a management role) of any company involved in the provision of fina...

    http://fma.govt.nz/news/enforcement-and-court-decisions/undertakings/enforceable-undertaking-from-stephen-duff/

  2. 11 November 2014

    Enforceable Undertakings from SPI Directors

    141111 Enforceable Undertakings from SPI Directors In October 2014, Allister Knight and Murray Alcock (the Directors) offered Enforceable Undertakings to FMA relating to entities comprising the SPI group of companies, pursuant to section 46 of the FMA Act 2011.  The Undertakings provided that the Directors were required to repay the outstanding principal of $601,394.12 to investors of SPI Property Fund Limited by 30 June 2015. $60,000 was paid to SPI Property investors on a pro rata...

    http://fma.govt.nz/news/enforcement-and-court-decisions/undertakings/enforceable-undertakings-from-spi-directors/

  3. 7 November 2012

    Zero Commission NZ Limited (for unsolicited offers made before 1 December 2012)

    Text of enforceable undertaking in FMA's letter to Zero Commission NZ Limited dated 2 June 2011 You have indicated that Zero proposes to make an unsolicited offer to shareholders in [ ] with holdings of 1,500 shares or less, with a 21 day acceptance period. The proposed offer price per share would be less than 10% below the current market price of the shares. On the basis of the above information, and of your assurance that Zero is committed to ensuring that investors make an informed deci...

    http://fma.govt.nz/news/enforcement-and-court-decisions/undertakings/zero-commission-nz-limited/

  4. 13 July 2012

    Ross Investments (Aust) Pty Limited and Robert Ross (for unsolicited offers made before 1 December 2012)

    140605 EU from strategic finance directors Enforceable Undertaking to Include FMA Statement in Unsolicited Offer Documents I understand the Financial Markets Authority (FMA) is considering whether or not to take further steps against Ross Investments (Aust) Pty Limited and Robert Campbell in relation to potential offers for debentures in Dominion Finance Group Limited (In Receivership & In Liquidation) and for securities in other companies. Ross Investments (Aust) Pty Limited an...

    http://fma.govt.nz/news/enforcement-and-court-decisions/undertakings/ross-investments-aust-pty-limited-and-robert-ross/

  5. 10 April 2012

    VonWin Capital Management, L.P. (for unsolicited offers made before 1 December 2012)

    111220 VonWin Capital Management unsolicited offer Undertaking to Include FMA Statement in Unsolicited Offer Documents VonWin Capital Management, L.P. has agreed to provide FMA with an undertaking to include an FMA statement in unsolicited offer documents. The terms of the undertaking are detailed in the attachment below. VonWin Capital Management unsolicited offer.pdf (963 KB)

    http://fma.govt.nz/news/enforcement-and-court-decisions/undertakings/vonwin-capital-management-l-p/

  6. 17 October 2010

    Stock & Share Trading Company Pty Limited (for unsolicited offers made before 1 December 2012)

    Undertaking to Include FMA Statement in Unsolicited Offer Documents 1. I understand the Financial Markets Authority (FMA) is considering whether or not to make an order under section 49(1) of the Financial Markets Authority Act (FMA Act) against Stock & Share Trading Company Pty Limited (Stock & Share). Specifically, whether to make an order requiring that any offer document containing an unsolicited offer to purchase securities made by or on behalf of Stock & Share or any associat...

    http://fma.govt.nz/news/enforcement-and-court-decisions/undertakings/stock-and-share-trading-company-pty-limited/

  7. 16 July 2010

    Finance and Investments Partners Enforceable Undertaking

    Undertaking to Include FMA Statement in Unsolicited Offer Documents 1. I understand the Financial Markets Authority (FMA) is considering whether or not to make an order under section 49(1) of the Financial Markets Authority Act (FMA Act) against Stock & Share Trading Company Pty Limited (Stock & Share). Specifically, whether to make an order requiring that any offer document containing an unsolicited offer to purchase securities made by or on behalf of Stock & Share or any associat...

    http://fma.govt.nz/news/enforcement-and-court-decisions/undertakings/finance-and-investments-partners-enforceable-undertaking/

  8. 22 June 2010

    ANZ National Bank Limited and ING (NZ) Limited

    1.Introduction 1.1 This undertaking is offered to the Securities Commission for acceptance under section 69J of the Securities Act 1978 by: a. ANZ National Bank Limited ("ANZN")Level 6, 1 Victoria Street1 -9 Victoria StreetWELLINGTON and by b.ING (NZ) Limited ("ING (NZ)")Level 27ASB Bank Centre135 Albert StreetAUCKLAND 2.Background 2.1 The Commerce Commission has investigated alleged contraventions of the Fair Trading Act 1986 by ING (NZ) and other entities in relation to the marketing, prom...

    http://fma.govt.nz/news/enforcement-and-court-decisions/undertakings/anz-national-bank-limited-and-ing-nz-limited/

  9. 7 April 2008

    Foodstuffs (Wellington) Co-Operative Society Limited

    1 Introduction 1.1This undertaking is offered to the Securities Commission for acceptance under section 69J of the Securities Act 1978 by: Foodstuffs (Wellington) Co-operative Society Limited (Society), an industrial and provident society incorporated on 8 April 1957, whose registered office is at:The Foodstuffs BuildingKiln StreetSilverstream And by the directors of the Society: Peter James Anderson whose address is 3 Nikau Grove, Woburn; Bruce McDonald Beaton whose address is 19 Cambridge...

    http://fma.govt.nz/news/enforcement-and-court-decisions/undertakings/foodstuffs-wellington-co-operative-society-limited/

  10. 20 June 2007

    Contributory Mortgage Investments Limited

    This undertaking is offered to the Securities Commission ("Commission") for acceptance under section 69J of the Securities Act 1978 ("the Act") by: Contributory Mortgage Investments Limited ("CMI"), contributory mortgage broker, Eden Crescent, Auckland and by Contributory Mortgage Nominees Limited ("CMN"), nominee company for CMI, Eden Crescent, Auckland and by John Leonard Martin ("John Martin"), director of CMI and CMN and by Ronald Spencer Jamieson ("Ron Jamieson"), alternate director for...

    http://fma.govt.nz/news/enforcement-and-court-decisions/undertakings/contributory-mortgage-investments-limited/

  11. 5 March 2007

    Kensington Park Properties Limited, Patrick Marinus Fontein

    1.Introduction 1.1This undertaking is offered to the Securities Commission for acceptance under section 69J of the Securities Act 1978 by: Kensington Park Properties Limited (1756692) ("Company"), a company incorporated on 18 January 2006, whose registered office is at:Level 3, Kensington House52-54 Grafton RoadGraftonAucklandC/o Caroline Beaumont And by the directors of the Company: Patrick Marinus Fontein whose address is 192 Orakei Road, Remuera, Auckland and Allan Graham Clarke whose...

    http://fma.govt.nz/news/enforcement-and-court-decisions/undertakings/kensington-park-properties-limited-patrick-marinus-fontein/

  12. 5 March 2007

    Huka Falls Resort Limited, Patrick Marinus Fontein

    1.Introduction 1.1This undertaking is offered to the Securities Commission for acceptance under section 69J of the Securities Act 1978 by: Huka Falls Resort Limited (1719017)("Company"), a company incorporated on 14 November 2005, whose registered office is at:Level 3, Kensington House52-54 Grafton RoadGraftonAucklandC/o Caroline Beaumont And by the sole director of the Company: Patrick Marinus Fontein whose address is 192 Orakei Road, Remuera, Auckland (the "Director") 2.Background 2...

    http://fma.govt.nz/news/enforcement-and-court-decisions/undertakings/huka-falls-resort-limited-patrick-marinus-fontein/

  13. 8 June 2006

    The Gables Limited, Combined Financial Services Limited, Aoraki Commercial Property Limited, Rhys David Morgan, Lorraine Tee Atairehia Morgan, Neville Ian Cant

    This undertaking is offered to the Securities Commission for acceptance under section 69J of the Securities Act 1978 by: The Gables Limited ("TGL")18 Woollcombe StreetTimaru And by Combined Financial Services Limited ("CFS")C/- Macfarlane Dougall StringerLevel 586 Gloucester StreetChristchurch And by Aoraki Commerical Property Limited ("ACP")C/- Macfarlane Dougall StringerLevel 586 Gloucester StreetChristchurch And by Rhys David Morgan ("Mr Morgan")86 Mckenzie StreetGeraldine And by Lorrain...

    http://fma.govt.nz/news/enforcement-and-court-decisions/undertakings/the-gables-limited-combined-financial-services-limited/

  14. 23 February 2006

    Contributory Mortgage Investments Limited, Robert John Martin and Peter van Nieuwkoop

    This undertaking is offered to the Securities Commission ("Commission") for acceptance under section 69J of the Securities Act 1978 by: Contributory Mortgage Investments Limited ("CMI")Shortland StreetAUCKLAND And by Mr John Martin ("Mr Martin")C/- Shortland StreetAUCKLAND And by Mr Peter van Nieuwkoop ("Mr van Nieuwkoop")C/- Shortland StreetAUCKLAND Background Parties 1.CMI is a company incorporated under the Companies Act 1993 on 30 September 1999. It is registered, and carries on busine...

    http://fma.govt.nz/news/enforcement-and-court-decisions/undertakings/contributory-mortgage-investments-limited-robert-john-martin-and-peter-van-nieuwkoop/

  15. 7 July 2005

    Alpine Pacific Developments Limited, Neil Gurdjieff Dougan and Ernest Ross Thompson

    This undertaking is offered to the Securities Commission for acceptance under section 69J of the Securities Act 1978 by: Alpine Pacific Developments Limited ('Alpine')Level 2137 Victoria StreetChristchurch And The directors of Alpine: Neil Gurdjieff Dougan93 Malcolm AvenueBeckenhamCHRISTCHURCHErnest Ross Thomson283 Medway RoadHANMER SPRINGS ('the directors') Background 1.Alpine is a registered company under the Companies Act 1993. Alpine owns a property at Beach Road, Kaikoura ('the proper...

    http://fma.govt.nz/news/enforcement-and-court-decisions/undertakings/alpine-pacific-developments-limited-neil-gurdjieff-dougan-and-ernest-ross-thompson/

  16. 7 July 2005

    Braemar Lodge 2004 Limited, Neil Gurdjieff Dougan and Ernest Ross Thomson

    This undertaking is offered to the Securities Commission for acceptance under section 69J of the Securities Act 1978 by: Braemar Lodge 2004 Limited ("Braemar")Level 2137 Victoria StreetChristchurch And The directors of Braemar: Neil Gurdjieff Dougan93 Malcolm AvenueBeckenhamCHRISTCHURCHErnest Ross Thomson283 Medway RoadHANMER SPRINGS ("the directors") Background 1.Braemar is a registered company under the Companies Act 1993. Braemar owns a property at Medway Road, Hanmer Springs ("the pro...

    http://fma.govt.nz/news/enforcement-and-court-decisions/undertakings/braemar-lodge-2004-limited-neil-gurdjieff-dougan-and-ernest-ross-thomson/