Equitise was first licensed to operate in New Zealand in December 2014. Photo / File
The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko - has issued an infringement notice to equity crowdfunding service Equitise for failing to file financial statements on time.
Equitise has been licensed by the FMA as an equity crowdfunding service provider since 22 December 2014.
As a licensed provider, the company was required to file audited statements for the year ended June 30, 2020 by October 30, 2020.
The FMA said the company is yet to file its financial statements.
Equitise has paid a $7500 fee for the offence.
"The purpose of financial statements is to provide investors and other stakeholders with useful information for decision-making purposes," the FMA said.
"For licensed crowdfunding service providers, this includes information about how the entity is performing under the licence.
"It is important that reliable and supportable financial statements are made available to the public in a timely manner. For many reporting entities, financial statements are the only source of financial information available to investors and other stakeholders."
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