Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Charges Laid Against Contributory Mortgage Brokers

Charges Laid Against Contributory Mortgage Brokers

The Financial Markets Authority (FMA) has charged two contributory mortgage brokers with failing to deliver annual reports.


Prudential Mortgage Limited has been charged with failing to deliver an annual report to the Registrar of Companies for the period 1 April 2012 to 31 March 2013 by 30 June 2013. Prudential is due to appear in the Christchurch District Court on 5 March 2014.


Another company, First Mortgage Investments Limited has been charged with failing to deliver an annual report to the Registrar of Companies for the period 1 April 2012 to 31 March 2013 by 30 June 2013. First Mortgage appeared in the Auckland District Court on 30 January 2014 and will reappear on 20 March 2014.


The charges have been laid under the Securities Act (Contributory Mortgage) Regulations and carry a maximum fine of $5000.


FMA Head of Enforcement, Belinda Moffat, said when companies fail to file annual reports it limits the ability of investors to make informed investment decisions.


“Non-filing of annual reports and financial statements is an issue which FMA takes seriously and we are considering a number of other cases where these key documents have not been filed,” said Ms Moffat.


“Ensuring accurate and timely disclosure to investors and promoting compliance with reporting obligations is a key priority for FMA.”

Ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Balance Of Trade: NZ Posts Trade Deficit In October On Falling Dairy Exports

New Zealand’s posted its largest monthly trade deficit for October in six years, while narrowing the shortfall from September, led by a fall in dairy exports to China while all main imports into the country rose. More>>

ALSO:

Gigatown Winner: Plenty Of Positives For Dunedin

Although the city has taken the Gigatown title, along with new ultrafast 1Gbps broadband and funding for $700,000 worth of UFB-related initiatives across the community, Mr Cull says Dunedin has gained so much more through its involvement. More>>

ALSO:

R18: The Warehouse Group Praised For Removing Games

The decision by New Zealand’s largest retailer The Warehouse Group (TW Group), to withdraw stocks of the latest version of Grand Theft Auto V (GTA V) and other R18 games, has been praised by advocacy group Stop Demand Foundation. More>>

ALSO:

Air NZ Wine Awards: Victory For Villa Maria As Pinot Noir Thrills

It was a night to remember as Villa Maria Estate picked up one of the highest accolades of the evening, the O-I New Zealand Reserve Wine of the Show Trophy, at the 28th Air New Zealand Wine Awards. The Villa Maria Single Vineyard Southern Clays Marlborough ... More>>

ALSO:

Future Brighter Money: RBNZ Releases New Bank Note Designs

New Zealand’s banknotes are getting brighter and better, with the Reserve Bank today unveiling more vibrant and secure banknote designs which will progressively enter circulation later next year. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news