Financial Markets Authority files civil lawsuit against Booster Investment Management and directors for breaching Financial Markets Conduct Act through improper investments.
The Financial Markets Authority (FMA) filed a civil lawsuit against Booster Investment Management Limited (BIML) and its directors/senior managers, accusing them of breaching the Financial Markets Conduct Act (FMCA) through improper investments made into the Booster Tahi Limited Partnership, which invested in domestic wine businesses. The FMA alleges multiple breaches, including failure to manage conflicts of interest and related party benefits, and seeks declarations of contravention, pecuniary penalties, and an inquiry into damages.
June 12, 2024
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