FMA finds nothing in Fonterra probe

Fri, 09 Jul 2021

The Financial Markets Authority won’t be going after Fonterra regarding the timing of accounting write-downs for Beingmate Baby and Child Food Co and the China Farm assets. It has “closed its inquiries” and “did not find evidence to support regulatory action, including litigation, under the Financial Markets Conduct Act”, it said.The inquiry was launched after complaints that the value of these and other assets were re-stated in a Fonterra market announcement in August 2019.From September 2017 to April 2018, t...

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