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: 184
- Latest tracked action: 2026-07-06
- Default currency: GBP
Use This Data
Open the live RegActions workspace to filter the source records, inspect related firms, compare breach themes, and export the evidence for compliance or board reporting.
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.
Frequently asked questions
What is the largest FMANZ fine?
The largest FMANZ fine currently recorded by RegActions is £9,165,000, issued to IAG on 6 Oct 2025 by the Financial Markets Authority. This reflects amounts that have passed RegActions' amount-review gate; see the FMANZ fines database below for the complete, source-linked list.
How much has FMANZ fined in 2026?
RegActions records £1,288,388 in disclosed Financial Markets Authority (FMANZ) monetary penalties in 2026, based on source-linked notices that have passed the amount-review gate. This excludes non-monetary actions such as prohibitions and public censures.
How many FMANZ penalties were issued in 2026?
RegActions has recorded 2 disclosed Financial Markets Authority (FMANZ) monetary penalties in 2026 so far. This counts individual penalty notices, not firms, since some are fined more than once in a year.
How can I verify a FMANZ fine?
Start with the firm or individual name, the penalty date and the disclosed amount, then open the linked Financial Markets Authority notice. The notice sets out the rule breaches, the affected period and the sanction. RegActions links every record to its official source; the regulator's own publication remains the authoritative record.