FMANZ Fines Database | Financial Markets Authority Enforcement Actions
Track Financial Markets Authority (FMANZ) fines and enforcement actions from 2015-2026. Current totals are loaded from the live evidence view. Complete database with stats, trends, and analysis.
Coverage Snapshot
- Regulator: Financial Markets Authority
- Jurisdiction: New Zealand
- Tracked period: 2015-2026
- Tracked actions: 180
- Latest tracked action: 2026-07-06
- Default currency: GBP
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Country risk report: New Zealand →
Largest enforcement actions
| Firm or individual | Date | Amount | Breach category | Source |
|---|---|---|---|---|
| IAG | 6 Oct 2025 | £9,165,000 | FMA civil proceeding against IAG New Zealand for fair dealing breaches over insurance pricing and discounts with a $19.5m penalty imposed. | Notice |
| Tower Limited | 9 Dec 2025 | £3,290,000 | FMA action against Tower over misleading multi policy discount claims and overcharges, with remediation and a $7m court penalty. | Notice |
| HGL | 2 Dec 2025 | £3,290,000 | FMA action against Tower over misleading multi policy discount claims and overcharges, with remediation and a $7m court penalty. | Notice |
| AA Insurance Limited (AAI) | 7 Oct 2024 | £2,902,250 | FMA case against AA Insurance for misleading discount practices and customer overcharging leading to High Court penalty and system failures | Notice |
| Vero | 3 Jul 2024 | £1,833,000 | FMA action against Vero for multi policy discount failures led to High Court proceedings and a $3.9m penalty with customer remediation. | Notice |
| Aurora Financial Group Limited | 10 May 2023 | £1,645,000 | FMA censure of Aurora Financial for misleading KiwiSaver returns, using historical underlying fund figures that implied Aurora funds had a track record. | Notice |
| Cigna Life Insurance New Zealand Limited | 17 Jan 2023 | £1,645,000 | FMA censure of Aurora Financial for misleading KiwiSaver returns, using historical underlying fund figures that implied Aurora funds had a track record. | Notice |
| Cigna Life Insurance New Zealand Limited | 17 Jan 2023 | £1,645,000 | FMA case involving Cigna Life for FMC Act fair dealing breaches over inflation adjustments, resulting in Wellington High Court penalties. | Notice |
| Cigna Life Insurance New Zealand Limited | 17 Jan 2023 | £1,645,000 | FMA suspended The Property Crowd crowdfunding licence for material compliance and financial reporting failures, including FSPR deregistration and remediation. | Notice |
| Cigna Life Insurance New Zealand Limited | 17 Jan 2023 | £1,645,000 | FMA formally warned Vanguard Investments Australia for failing to lodge required notice of ASIC action under the FMC Regulations in New Zealand. | Notice |
| The Property Crowd | 22 Dec 2022 | £1,645,000 | FMA suspended The Property Crowd crowdfunding licence for material compliance and financial reporting failures, including FSPR deregistration and remediation. | Notice |
| The Property Crowd | 22 Dec 2022 | £1,645,000 | FMA case involving Cigna Life for FMC Act fair dealing breaches over inflation adjustments, resulting in Wellington High Court penalties. | Notice |
| The Property Crowd | 22 Dec 2022 | £1,645,000 | FMA censure of Aurora Financial for misleading KiwiSaver returns, using historical underlying fund figures that implied Aurora funds had a track record. | Notice |
| The Property Crowd | 22 Dec 2022 | £1,645,000 | FMA formally warned Vanguard Investments Australia for failing to lodge required notice of ASIC action under the FMC Regulations in New Zealand. | Notice |
| Westpac | 2 May 2025 | £1,527,500 | FMA action against Westpac over misleading discount representations and fee overcharging, with remediation, enforceable undertakings and a $3.25m penalty. | Notice |
| FMG Insurance Limited and Farmers' Mutual Group (FMG) | 9 Feb 2026 | £987,000 | FMA case where FMG admitted fair dealing breaches in February 2026, remediated customers and paid $2.1m under an enforceable undertaking. | Notice |
| Opes | 11 Dec 2025 | £987,000 | FMA case where FMG admitted fair dealing breaches in February 2026, remediated customers and paid $2.1m under an enforceable undertaking. | Notice |
| Medical Assurance Society New Zealand Limited (MAS) | 27 Nov 2023 | £987,000 | FMA action against MAS over premium discount and inflation errors plus benefit underpayments with remediation and a $2.1m penalty ordered. | Notice |
| Tiger Brokers (NZ) Limited | 29 Jun 2023 | £423,000 | FMA issued a permanent stop order against Validus after its failed High Court appeal for misleading offers of non existent financial products. | Notice |
| Kiwibank | 6 Aug 2025 | £381,875 | FMA action against Kiwibank over fee waiver overcharging and misleading representations with remediation, warning and civil penalty outcomes. | Notice |
Amounts are normalised to GBP for comparison.