RegAlert2026-04-16
Added · Updated
FMA settles IPO Proceeding with CBL
The Financial Markets Authority has reached a full and final settlement with CBL Corporation Limited regarding claims related to its 2015 Initial Public Offering. This agreement resolves the regulator's civil proceedings against the insurer, which collapsed in 2018 after misleading investors with inadequate information. The parties will now proceed to a pecuniary penalty hearing before the High Court to determine the financial sanctions.
FMA published 3 documents in the last 30 days — get each new one by email the day it lands.
Like many organisations, we use technology on our website to collect information that helps us enhance the experience of our site. The cookies we use allow our website to work and help us to better understand what information is most useful to you.
Back
16 April 2026
SHARE THIS
Share to facebook
Share to LinkedIn
Share to X
Share by Email
Print this page
Back to top
Media Release
MR No. 2026 – 17
The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko has reached a full and final settlement with CBL Corporation Limited (CBL) (in liquidation). The settlement resolves the FMA’s claims against CBL in relation to its 2015 Initial Public Offering (IPO).
The settlement marks another key step forward, in the long running proceedings arising from the collapse of the insurer CBL in 2018, according to the FMA’s Head of Enforcement, Margot Gatland. It follows the FMA’s recent settlement of its case against CBL Director Mr Harris .
The FMA took civil proceedings against CBL following the company’s listing on the NZX in October 2015 and subsequent collapse in February 2018 when it was valued at $750 million.
“We did this because misleading or providing inadequate information to investors is unacceptable,” says Ms Gatland.
“New Zealanders need to know that we will hold issuers to account to protect investors and ensure New Zealand’s financial system works for everyone.
“Having now reached full and final settlement with CBL, the parties will proceed to a pecuniary penalty hearing before the High Court.”
Ends
Media contact:
Media.fma@fma.govt.nz?subject=Enquiry%3A%20FMA%20settles%20IPO%20Proceeding%20with%20CBL
Non-media queries:
questions@fma.govt.nz?subject=Enquiry%3A%20FMA%20settles%20IPO%20Proceeding%20with%20CBL
Sign in to read the rest — it's free
Source: Financial Markets Authority — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
2026-05-01
FMA discontinues CBL IPO Proceeding against the Hutchison Estate
2026-04-29
FMA publishes second annual report on financial advice regulatory returns
2026-04-23
QEX director Jingjie Xue banned and ordered to pay a penalty
2026-04-22
FMA joins global initiative tackling unlawful influencers
2026-04-15
FMA anticipates KiwiSaver providers will increase investment in private assets
2026-04-13
FMA Settles IPO Proceeding with CBL Director Peter Harris
2026-04-10
FMA seeks liquidation of additional Chance Voight entities
2026-04-09
FMA highlights importance of high quality financial reporting amid global uncertainty
More like this from FMA
FMA published 3 documents in the last 30 days. We email you each new one the day it's published.