Tag: pecuniary_penalty
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IAG to Pay $19.5 Million Penalty for Widespread Failures
IAG New Zealand Limited will pay a $19.5 million penalty after admitting to fair dealing breaches. The Financial Markets Authority (FMA) investigation revealed that IAG made false and/or misleading representations regarding its insurance products. FMA Executive Director Louise Unger stated,…
BusinessPolitics and GovernmentFinancial MarketsLegalEconomy IAG New Zealand LimitedFinancial Markets AuthorityLouise UngerFinancial Markets Conduct Actfair dealingpecuniary penaltyNZ Financial Markets Authority