New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>The Department of Internal Affairs (DIA), NZ’s gambling regulator, intends to commence civil penalty proceedings against SkyCity (SKC) due to its alleged non-compliance with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act). </li><li>This is similar to the action taken by AUSTRAC (the Australian financial crimes regulator) against SkyCity Adelaide and other Australian casinos over the past couple of years.</li><li>The maximum penalty that SKC faces is just NZ$8m (amounting to 1c per share). This is tiny in the context of SKC’s current regulatory discount implied in its share price. </li></ul>

The Department of Internal Affairs (DIA), NZ’s gambling regulator, intends to commence civil penalty proceedings against SkyCity (SKC) due to its alleged non-compliance with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act). This is similar to the action taken by AUSTRAC (the Australian financial crimes regulator) against SkyCity Adelaide and other Australian casinos over the past couple of years.The maximum penalty that SKC faces is just NZ$8m (amounting to 1c per share). This is tiny in the context of SKC’s current regulatory discount implied in its share price. 

Skycity Entertainment

SkyCity - DIA No Longer MIA