tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Sunday, November 10th, 11:15AM

Investments

rss
Latest Headlines

Strategic breaches likely: FMA

The Financial Markets Authority says six directors of Strategic Finance are likely to have breached the Securities Act.  

Thursday, February 7th 2013, 10:18AM

The FMA has been investigating the company, which is in receivership.

The apparent breaches relate to statements made in a registered prospectus, investment statement and in an advertisement between March 2008 and August 2008.

The directors are Kerry Finnigan, Graham Edward Jackson, Marcel Aubrey Lindale, Timothy John Rich, Denis Grenville Thom and David John Wolfenden.

Strategic went into receivership in March 2010 owing approximately 11,000 investors $383 million.

FMA has notified the directors of its findings and agreed to provide them with an opportunity to respond to the proposed claim before civil proceedings are filed.

Head of enforcement Belinda Moffatt said:  "FMA's role as a publicly-funded litigant, acting in the public interest, necessitates this announcement to keep the market and investors informed.”

« Infratil buying back infrastructure bondsGiant ANZ bond issue to reset »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
Today's Best Bank Rates
Rabobank 5.25  
Based on a $50,000 deposit
More Rates »
News Bites
Latest Comments
Subscribe Now

Deposit Rates newsletter

Previous News

MORE NEWS»

Most Commented On
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com