SUBSCRIBER-ONLY POLL RESULT: Will the new fines from the FMA deter companies from filing late annual reports

Most NBR member subscribers believe new Financial Markets Authority (FMA) fines will spur companies to file their annual reports on time.

The FMA has been clamping down on late filing of financial statements under the Financial Reporting Act 1993, with a number of directors recently attracting fines of $30,000-35,000 for breaches.

The maximum penalty is $100,000.

 

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