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.
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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