FMA files criminal charges over Forestlands investment scheme

FMA files criminal charges over Forestlands investment scheme
Dan Brunskill
The Financial Markets Authority has filed criminal charges against an unnamed individual involved in Forestlands Group for alleged disclosure and financial record keeping breaches. The FMA said security arrangements of a million-dollar loan were knowingly omitted from financial statements, misrepresenting the financial position to investors. The three charges under the Financial Reporting Act, filed in the Nelson District Court, carry a maximum penalty of five years imprisonment and a fine of up to $200,000. Other charges include multi...

More Finance

Willis can do more to fix banking competition
Finance

Andrew Body: Willis can do more to fix banking competition

A competitive banking system needs more than lower capital adequacy ratios.

Andrew Body 02 Apr 2025
Credit card issuers fear ComCom proposals
Finance

Credit card issuers fear ComCom proposals

The proposed regulations will stifle banking competition, says Mastercard.

Pattrick Smellie 02 Apr 2025
RBNZ signals U-turn on bank capital requirements
Finance

RBNZ signals U-turn on bank capital requirements

A major shift at RBNZ's first public outing since Adrian Orr's sudden departure.

Pattrick Smellie 31 Mar 2025
Grenon seeks to end ‘futile’ NZME board stoush
Finance

Grenon seeks to end ‘futile’ NZME board stoush

It's time for the current board to fold 'em, says coup orchestrator. 

Pattrick Smellie 26 Mar 2025