CBL’s Mulholland fined $0.6m for disclosure breaches
High Court penalty, plus costs of $0.6m, marks the first time a CFO found liable as an accessory to corporate offending under FMC Act.
The High Court in February found Carden Mulholland breached continuous disclosure rules before CBL's collapse in 2018.
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Former CBL chief financial officer Carden Mulholland must pay a penalty of $641,250 for breaching continuous disclosure rules before the NZX-listed insurer’s collapse in early 2018.
Mulholland must also pay court costs of $606,216.
In a statement, Financial Markets Authority head of enforcement
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