CDL Investments New Zealand Limited (CDI) has acknowledged and accepted responsibility for breaches related to disclosure of governance matters and the composition of its Audit Committee between 2018 and 2020.
The company has been ordered to pay a financial penalty of $50,000 and cover the costs of the investigation.
The breaches were historical in nature and had already been identified and corrected by the company in 2020.
CDI is disappointed by the penalty amount, especially considering that no evidence of actual loss was presented.
The company is committed to preventing future breaches and will seek external assistance if necessary.See more