Convicted insider trader Peter Huljich banned from being company director

Businessman Peter Huljich has been banned from becoming a company director for seven years, nearly three years after his conviction for insider trading.

Huljich was convicted on a charge of insider conduct relating to the sale of shares in former NZX-listed company Pushpay Holdings.

After the Supreme Court declined his application for leave to appeal, the Financial Markets Authority applied to the High Court in Auckland for a banning order against Huljich, which he did not oppose.

Huljich is banned from being a director, promoter, or manager of a financial markets participant, or a company intending to become one, for seven years from his conviction on 3 November 2023, unless the High Court gives permission.

"Everyone trading in our markets is entitled to do so on the same footing, without others acting while holding information the market doesn't have," FMA head of enforcement Margot Gatland said.

"Mr Huljich had such information and encouraged others to trade when that information was not generally available to the market trading on it."

Gatland said it marked the end of proceedings relating to the Pushpay insider trading case.

Huljich is part of the Auckland richlister Huljich family, and is the son of Christopher Huljich.

He and his father founded Huljich Wealth Management, which was later sold to Fisher Funds.

The FMA said it also accepted an enforceable undertaking from Peter Huljich's partner Sarah Huljich (née Elder), who was Pushpay's head of investor relations at the time.

She admitted she should have known the information was material, and that she helped to facilitate, and thereby encouraged trading in Pushpay shares while she held that information.

She has paid $50,000 in lieu of a pecuniary penalty, and the FMA said civil proceedings against her have been discontinued.