The New Zealand Financial Markets Authority concluded the prosecution of Christchurch consumer lender 4J Enterprise Limited for lending without registration on the Financial Service Providers Register. The Christchurch District Court fined the company NZD 15,000, sentenced director Hope Suan to 140 hours of community work and sentenced senior manager Juvy Suan to 150 hours of community work. Despite being warned in May 2024 that it could not lend without registration or the certification then required from the Commerce Commission, 4J continued for another 18 months. It issued 46 new loans totaling NZD 81,110 to 27 borrowers and collected about NZD 65,000 in interest across 50 new and existing loans before stopping interest collections in November 2025. Loans ranged from NZD 500 to NZD 15,000, and records showed some borrowers paid interest rates of up to 55.61%, although the lender said its annual rate was 33%. The company and the two individuals pleaded guilty to the offending. The Commerce Commission investigated 4J and initially filed the charges, but the Financial Markets Authority assumed responsibility for the prosecution when consumer credit regulation transferred to it on July 1, 2026.
New Zealand Financial Markets Authority concludes unregistered lending prosecution with NZD 15,000 fine
The New Zealand Financial Markets Authority concluded the prosecution of 4J Enterprise Limited for unregistered consumer lending, resulting in a NZD 15,000 fine and community work sentences for its director and senior manager. The lender continued operating for 18 months after a May 2024 warning, issuing NZD 81,110 in new loans and collecting about NZD 65,000 in interest.