Media Release – InvestNow Responds to FMA Announcement

20th December 2024

InvestNow is disappointed with the Financial Markets Authority’s (FMA) announcement today. Throughout its operations, InvestNow aspires not only to comply with but to exceed the FMA’s expectations.

The claim outlined in the FMA announcement relates to events between 2018 and early 2022 that were addressed in a public formal warning released by the FMA in 2022. InvestNow fully complied with all actions the FMA required of it in response to that formal warning.

InvestNow’s Anti-Money Laundering (AML) programme was reviewed by the FMA in 2017/18, just prior to these events. During the same period, InvestNow’s AML programme was also subject to regular external audits.

Since the onset of the FMA investigation in 2021, InvestNow has fully cooperated with the FMA. The investigation did not identify any evidence of consumer harm or money laundering.

During the subsequent three-year period InvestNow met every deadline the FMA imposed and complied with all requests and required remediation actions.

InvestNow does not intend to make any further comment while this matter remains before the courts.

For further information, please contact Mike Heath.

Mike Heath
General Manager
InvestNow
Mob: +64 272859178

Email:  mikeheath@investnow.co.nz