New Zealand’s Markets Disciplinary Tribunal has again fined Insured Group for late delivery of its annual report to the country’s stock exchange.

It has demanded $NZ45,000 ($36,374) from the Perth-based broker and issued a public censure.

It follows a $NZ50,000 ($40,417) fine and censure issued in March last year.

Insured Group told the New Zealand Exchange (NZX) it would release its 2012 annual report last September 30, but it did not do so until January 24.

The company “did not provide any update or explanation to the market between

September 28 and December 18 about the delay in finalising the 2012 annual report”, the tribunal’s judgement says.

The broker asked the NZX for a waiver on the September 30 deadline, but the request was only made on September 27, according to the tribunal.

“The NZX replied that although Insured Group had the option of applying for a waiver, it was unlikely to consider favourably a request… at this late stage.”

Delays providing audited accounts can unnerve investors and reduce confidence in stock, the judgement says.

“Any trading halt, and particularly one that lasts for three-and-a-half months and arises from uncertainty surrounding an issuer’s financial position, damages the integrity of the market.”

Insured Group must also pay costs incurred by the NZX and the tribunal while investigating the breach.