First Mortgage Investments Limited has been convicted and fined $4000 plus court costs for failing to deliver its annual report to the Registrar of Companies by June 30 last year.
First Mortgage pleaded guilty to the charge laid by the Financial Markets Authority (FMA).
FMA head of enforcement Belinda Moffat said FMA sought to raise standards of conduct in the market by encouraging compliance with financial markets’ legislation. However, where there was persistent non-compliance, it would take enforcement action.
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