The $18 million settlement reached between Hanover Finance’s directors and promoters and the Financial Markets Authority should be of some comfort to investors in what has become a “better regulated” market, Prime Minister John Key said. The FMA settled for just under half its $35 million civil claim, which was due to go to court later this year alleging misleading and …

Four of the Hanover directors and promoters involved in an $18 million settlement with the Financial Markets Authority say it’s the best outcome for investors and taxpayers, and the regulator would have failed in court. In a written statement, Mark Hotchin, Greg Muir, Tipene O’Regan and Bruce Gordon said they decided to settle because of the cost and burden of litigation …

Hanover Finance former shareholder Eric Watson isn’t contributing to the $18 million settlement reached between the Financial Markets Authority and directors and promoters of the group just two weeks before a civil claim was due to be heard in court. His name is omitted from the settlement agreement which lists contributions from the other five directors and promoters – Mark …