Media releases – 43

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1. Media release

   7 October 2024

   AA Insurance to pay $6.175 million penalty for misleading customers

   AA Insurance New Zealand Limited (AAI) has been ordered to pay a penalty of $6.175 million for failing to apply multi-policy and membership discounts, as well as guaranteed no claims bonuses.
2. Media release

   3 October 2024

   FMA appoints Kari Jones as Executive Director Transformation and Operational Delivery

   FMA confirmed the appointment of Kari Jones to join the FMA’s executive leadership team as Executive Director for Transformation and Operational Delivery.
3. Media release

   2 October 2024

   FMA files civil proceedings against QEX Logistics Limited and its director, Jingjie Xue

   FMA has filed civil proceedings against QEX Logistics Ltd (QEX) and its sole director, Jingjie Xue, for failing to comply with financial reporting requirements under the Financial Markets Conduct Act 2013 (FMC Act).
4. Media release

   24 September 2024

   KiwiSaver passes milestone of $100 billion of funds under management

   The FMA’s latest KiwiSaver Annual Report for the year to 31 March 2024 shows that KiwiSaver investments are working well for New Zealanders, passing the significant milestone of its first $100 billion of funds under management.
5. Media release

   17 September 2024

   FMA files criminal proceedings against individual for alleged insider trading

   The FMA has filed criminal proceedings against an individual for alleged insider trading relating to the buying and selling of shares in Heartland Group Holdings Limited (HGH).
6. Media release

   11 September 2024

   FMA publishes ethical investing disclosure insights update

   FMA has published insights from its supervision of funds that claim to have ethical features.
7. Media release

   10 September 2024

   Understanding Artificial Intelligence in Financial Services

   FMA published research on the use of Artificial Intelligence (AI) in New Zealand’s financial services sector.
8. Media release

   9 September 2024

   FMA cancels Rockfort Markets’ derivative issuer licence following High Court appeal

   FMA has cancelled Rockfort Markets Limited’s (Rockfort) Derivative Issuer (DI) licence. The cancellation took place on 19 July 2024.
9. Media release

   4 September 2024

   FMA cancels Integrity Advisers Insurance Limited’s Financial Advice Provider licence

   FMA has cancelled Integrity Advisers Insurance Limited’s (Integrity) Financial Advice Provider (FAP) licence for engaging in serious misconduct.
10. Media release

    3 September 2024

    FMA files criminal charges against former financial adviser

    FMA has filed criminal charges against a former financial adviser. The defendant, who has interim name suppression, has pleaded not guilty.
11. Media release

    22 August 2024

    CBL managing director Peter Harris ordered to pay $1.4m penalty for fair dealing and continuous disclosure breaches

    The High Court has ordered Peter Harris, the former CBL Corporation Limited (In Liquidation) (CBLC) managing director, to pay a penalty of $1.4 million for continuous disclosure and misleading conduct.
12. Media release

    21 August 2024

    FMA statement on Statutory Management for Du Val corporations

    FMA confirmed a number of entities within the Du Val group be placed in statutory management under the terms of the Corporations (Investigation and Management) Act 1989 (the Corporations Act).
13. Media release

    6 August 2024

    Oceania Natural Limited defendants banned from holding senior management positions for nine years

    Oceania Natural Limited defendants, Wei (Walker) Zhong and Lei (Regina) Ding have been banned from being a director, promoter or manager of an entity for nine years.
14. Media release

    2 August 2024

    Du Val Group placed into interim receivership by High Court

    The High Court has placed Du Val Capital Partners Limited together with a number of entities within the Du Val Group, into interim receivership, at the request of the FMA. The interim receivership orders were also made in respect of Kenyon and Charlotte Clarke.
15. Media release

    30 July 2024

    FMA warns individual for market manipulation

    The FMA has issued a warning to an individual online trader for suspected market manipulation.