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BRIEF-NZ's Financial Markets Authority Completes Inquiry Into ANZ's Disclosure Of Property Sale

Published 22/08/2019, 01:32 pm
© Reuters.  BRIEF-NZ's Financial Markets Authority Completes Inquiry Into ANZ's Disclosure Of Property Sale

Aug 22 (Reuters) - NEW ZEALAND'S FINANCIAL MARKETS AUTHORITY:

* NEW ZEALAND'S FINANCIAL MARKETS AUTHORITY - COMPLETED INQUIRY INTO ANZ DISCLOSURE OF PROPERTY SALE BY ARAWATA ASSETS TO DEBORAH VERONICA WALSH

* NEW ZEALAND'S FMA- DETERMINED ANZ NEW ZEALAND GROUP SHOULD HAVE DISCLOSED THE SALE AS A RELATED PARTY TRANSACTION IN ITS 2017 FINANCIAL STATEMENTS

* NEW ZEALAND'S FMA- ANZ DISAGREES WITH FMA'S FINDING, CONSIDERS DISCLOSURE COULD NOT INFLUENCE ECONOMIC DECISIONS OF USERS OF FINANCIAL STATEMENTS

* NEW ZEALAND'S FMA- FMA HAS NOT ASSESSED APPROPRIATENESS OF SALE PRICE AS IT IS MATTER FOR OTHER AGENCIES TO CONSIDER

* NEW ZEALAND'S FMA - CONTINUING TO ENGAGE WITH ANZ, WILL REQUIRE IT TO ISSUE A CORRECTIVE STATEMENT RELATING TO 2017 FINANCIAL STATEMENTS

* NEW ZEALAND'S FMA- FMA EXPECTS ANZ TO REVIEW ITS INTERNAL FINANCIAL REPORTING

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