The New Zealand Financial Markets Authority has obtained a seven-year High Court banning order against Peter Huljich and accepted an enforceable undertaking from Sarah Huljich, concluding its insider conduct proceedings over trading in Pushpay Holdings shares. Peter Huljich was convicted of insider conduct in November 2023 after encouraging others to trade while holding material information that was not generally available to the market. The order prohibits Peter Huljich, for seven years from his conviction on Nov. 3, 2023, from serving as a director or promoter of, or participating directly or indirectly in the management of, a financial markets participant or a company that has resolved to become one, unless the High Court grants leave. Sarah Huljich, Pushpay’s former head of investor relations, admitted that she ought to have known the information was material and that she facilitated and encouraged trading while holding it. She paid NZD 50,000 in lieu of a pecuniary penalty, and the civil proceedings against her were discontinued. The proceedings concerned nonpublic information that Pushpay co-founder and director Eliot Crowther was considering resigning and selling his shareholding. Pushpay was not investigated or a party to the proceedings, and Crowther’s share sale was lawful.
New Zealand Financial Markets Authority2026-08-10
New Zealand Financial Markets Authority obtains seven-year ban against Peter Huljich and enforceable undertaking from Sarah Huljich
The New Zealand Financial Markets Authority has obtained a seven-year ban against Peter Huljich and accepted an enforceable undertaking from Sarah Huljich, concluding insider conduct proceedings involving Pushpay shares. Sarah Huljich paid NZD 50,000 in lieu of a pecuniary penalty, while Peter Huljich is barred from specified management and governance roles involving financial markets participants unless the High Court grants leave.