Regulatory alert: FMA scrutinizes Chance Voight and Bernard Whimp
The New Zealand Financial Markets Authority (FMA) has issued a warning to investors involved with Chance Voight, raising concerns about payment requests linked to director Bernard Whimp. The regulator notes that the affairs of the Chance Voight group may have been conducted in ways that potentially breach core NZ corporate and financial-market laws. This alert underscores the risks for investors who may be drawn to opportunities associated with the group and its director.
What the FMA concerns cover
According to the FMA, there are questions about whether Chance Voight group companies and their director, Bernard Whimp, complied with the provisions of the Companies Act 1993 as well as the Financial Markets Conduct Act 2013. The regulator’s statements indicate possible irregularities around how payments were requested or processed in relation to the business activities of these entities. While the FMA has not necessarily concluded that fraud or illegal activity occurred, the warning signals the potential for breaches that investors should take seriously.
Why these laws matter for investors
The Companies Act 1993 governs how companies are formed, run, and governed in New Zealand, including duties of directors and the rights of shareholders. Breaches can affect how profits are distributed, how decisions are made, and the overall legitimacy of corporate actions. Separately, the Financial Markets Conduct Act 2013 sets standards for the conduct of financial markets and investment services, aiming to protect investors from misleading or unfair practices. When authorities signal potential breaches in these areas, it can affect the trust and reliability investors place in related market activities.
What investors should consider
For anyone with exposure to Chance Voight or Bernard Whimp-related investments, the FMA warning is a reminder to conduct due diligence. Key steps include reviewing official filings, confirming the involvement of licensed financial advisers, and seeking independent legal or financial advice about any payment requests or investment commitments linked to the group. Investors should be alert to high-pressure tactics, opaque fee structures, or unusual payment arrangements that could contravene regulatory expectations.
Practical steps to take now
- Request a full breakdown of any payments or fees claimed by the Chance Voight entities and verify them against contract documents.
- Check the licensing and regulatory standing of advisers or managers connected to the opportunity, ensuring they are registered and in good standing with the FMA or other relevant regulators.
- Review corporate governance details for the Chance Voight group, including board minutes, shareholder communications, and any related-party transactions.
- Consult independent counsel to assess potential exposures under the Companies Act 1993 and the Financial Markets Conduct Act 2013.
- Monitor FMA updates for any further guidance or enforcement actions related to this matter.
What this means for the market
The FMA warning may influence investor sentiment around Chance Voight and related entities and could prompt more scrutiny of similar investment schemes. Regulatory warnings of this kind serve to heighten awareness about the importance of transparent governance, compliant payment practices, and clear risk disclosures in investment offerings. For market participants, the takeaway is to prioritize robust compliance checks and to engage with registered professionals when assessing opportunities that involve complex or borderline activities.
Bottom line
While the FMA has signaled concerns rather than proven wrongdoing, the attention around Bernard Whimp and Chance Voight underscores the regulator’s vigilance over corporate conduct and investment practices. Investors should act conservatively, demand clear documentation, and seek professional advice before proceeding with any payment requests or commitments linked to these entities. Ongoing regulatory oversight means heightened scrutiny for similar opportunities, and staying informed is essential for protecting one’s financial interests.
