FMA issues civil proceedings against Booster KiwiSaver leadership for alleged 'serious' breaches

FMA issues civil proceedings against Booster KiwiSaver leadership for alleged 'serious' breaches
The market watchdog's head of enforcement, Margot Gatland. (Image: FMA)
Rebecca Stevenson
The market watchdog alleges current and former directors of Booster KiwiSaver used funds to invest in related wine businesses, gaining an advantage and failing to disclose conflicts of interest. The Financial Markets Authority (FMA) said on Wednesday it had filed civil proceedings against KiwiSaver fund manager Booster Investment Management Limited and its directors Allan Yeo and Paul Foley, former director Brendon Doyle and senior managers David Beattie and Nicholas Craven. The FMA alleges the directors and managers br...

More Markets

NZ sharemaket up 0.1% despite 'volatile' markets
Markets Market Close

NZ sharemaket up 0.1% despite 'volatile' markets

The S&P/NZX 50 Index closed at 12,338.57, up 18.38 points or 0.15%.

Graham Skellern 03 Apr 2025
NZX-listed companies take stock in wake of US tariff moves
Economy

NZX-listed companies take stock in wake of US tariff moves

Wine makers, manufacturers and others mull what trade wars will bring.

Ian Llewellyn 03 Apr 2025
Analysts struggle to find upside from Trump tariffs
Economy

Analysts struggle to find upside from Trump tariffs

‘They've forgotten the lessons of the Great Depression,’ one analyst said.

Gregor Thompson 03 Apr 2025
S&P/ASX200 takes a tumble on Trump's Liberation Day, Asia to follow suit
Markets

S&P/ASX200 takes a tumble on Trump's Liberation Day, Asia to follow suit

The fall may be short lived now there is more certainty. 

Rebecca Howard 03 Apr 2025