Craigs fined

Craigs Investment Partners has been fined $30,000 and censured by the NZ Markets Disciplinary Tribunal for not recording retail client orders correctly in the NZX trading system for two years.

The tribunal released a statement saying a settlement had been reached.

The breach was of rule 15.5, which requires all orders to be entered into NZX's system with a CSN. 

Craigs accepted it had breached the rules, but no clients had been adversely affected.