June 5 (Reuters) - Financial Markets Authority :
* HAS FILED HIGH COURT PROCEEDINGS AGAINST ANZ BANK NEW ZEALAND
* PROCEEDINGS ALLEGE ANZ CHARGED SOME CUSTOMERS FOR CREDIT CARD REPAYMENT INSURANCE POLICIES THAT OFFERED THEM NO COVER
* REGULATOR SEEKS DECLARATIONS OF CONTRAVENTION OF FINANCIAL MARKETS CONDUCT ACT, PECUNIARY PENALTIES & COSTS FROM ANZ
* CLAIMS ANZ CONTRAVENED SECTION 22 OF FINANCIAL MARKETS CONDUCT ACT BY MAKING FALSE & MISLEADING REPRESENTATIONS ABOUT COVER OF POLICIES
* "CASE POINTS TO A FAILURE OF INTERNAL SYSTEMS AND CONTROLS RESULTING IN CUSTOMER HARM OVER A SIGNIFICANT PERIOD OF TIME"