Mortgage brokers charged over non-filing

Last updated 11:26 19/02/2014

Relevant offers


Weight Watchers campaign joins list of PR blunders Skills shortage results in firms looking internally to fill roles, recruitment firm says Pumpkin Patch in trading halt - too much debt, not enough capital British American Tobacco offers to buy Reynolds in US$47 billion deal Ikea NZ Facebook page set up: Is it finally coming to NZ? Auckland Council and contractors ordered to pay $120,000 to the family of killed rubbish truck worker 71yo asked to stand on hot water cylinder to plug in phone after bizarre UFB install Tuanz welcomes Vodafone offer to keep internet users connected Travel companies adapting to 'luxury' demands of young travellers The video that exposed Samsung's problems in China

Two contributory mortgage brokers have been charged by the Financial Markets Authority (FMA) with failing to deliver annual reports. 

Prudential Mortgage Limited has been charged with failing to deliver an annual report to the Registrar of Companies by June 30, 2013.

The report was for the 12 months from April 1, 2012. 

Prudential is due to appear in the Christchurch District Court on March 5.

Another company, First Mortgage Investments Limited has been charged with failing to deliver an annual report for the same period by June 30.

First Mortgage appeared in the Auckland District Court in January and will reappear on March 20. 

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

When companies failed to file annual reports it limited the ability of investors to make informed investment decisions, said FMA Head of Enforcement, Belinda Moffat

"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."

Ad Feedback

- Fairfax Media

Special offers

Featured Promotions

Sponsored Content