Track all Financial Markets Authority (FMANZ) fines and enforcement actions. 99 penalties from 2015-2026. Complete database with stats, trends, and analysis.
Coverage Snapshot
- Regulator: Financial Markets Authority
- Jurisdiction: New Zealand
- Tracked period: 2015-2026
- Tracked actions: 99
- 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 |
| IAG | 6 Oct 2025 | £9,165,000 | FMA has filed a civil proceeding against insurer IAG New Zealand Limited (IAG) for fair dealing breaches in relation to its insurance products. Read the background of the case on this page. | Notice |
| Tower Limited | 9 Dec 2025 | £3,290,000 | Tower Limited faces civil proceedings for misleading multi policy discount representations affecting thousands of customers and significant overcharges. | 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 |
| 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 | Vero Insurance New Zealand was penalised for failing to apply multi policy discounts leading to overcharges and breaching fair dealing obligations. | 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 |
| 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 |
| Westpac | 2 May 2025 | £1,527,500 | Westpac misled customers entitled to advertised discounts resulting in overcharges and penalties after failing to correctly apply fee discounts. | 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 |
| Medical Assurance Society New Zealand Limited (MAS) | 27 Nov 2023 | £987,000 | Details of the case filed in the High Court against Medical Assurance Society New Zealand Limited (MAS) can be found on this page. | 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 action against Tiger Brokers for AML CFT non compliance led to High Court civil penalty proceedings and a $900,000 pecuniary penalty. | Notice |
| Tiger Brokers (NZ) Limited | 29 Jun 2023 | £423,000 | Tiger Brokers NZ was penalised for systemic breaches of the AML CFT Act including due diligence failures record keeping failures and missed reporting duties | Notice |
| Kiwibank | 6 Aug 2025 | £381,875 | The FMA filed High Court civil proceedings against Kiwibank for making false and/or misleading representations, under the fair dealing provisions of the Financial Markets Conduct Act (FMC Act). Read the case timeline on this page. | 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 |
| CLSA Premium New Zealand Limited (CLSAP NZ) | 23 Jun 2020 | £361,900 | FMA case involving CLSA Premium NZ for AML/CFT Act breaches and licence conditions restricting derivatives offers to retail investors. | Notice |
| AIA | 30 Sep 2022 | £329,000 | The Auckland High Court ordered life insurer AIA to pay a pecuniary penalty of $700,000 for making false and/or misleading representations to some customers. | Notice |
| AIA | 30 Sep 2022 | £329,000 | FMA case against AIA for misleading policy representations and system failures resulting in customer overcharging and High Court penalty | Notice |
Amounts are normalised to GBP for comparison.