Date Time
Share
FMA concludes inquiries into Fonterra’s 2019 financial statements and complaints relating to valuations of Beingmate and China Farms
The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – has closed its inquiries that followed Fonterra’s 2019 financial statements market announcement. The FMA did not find evidence to support regulatory action, including litigation, under the Financial Markets Conduct Act.
The FMA’s inquiries followed complaints about the timing of the accounting write-downs relating to Beingmate Baby and Child Food Co Limited (Beingmate) and China Farm assets (China Farms). The values of these, and other, assets were re-stated in a Fonterra market announcement in August 2019.