Commission limbers up
The Securities Commission is renewing its earlier threat to use its statutory powers to stop advertisements and to cancel prospectuses in the forestry and syndicated property sectors.
Chairman Euan Abernethy says the commission is concerned about some of the statements being made by promoters about various investments.
Recent cases brought to the commission's attention include:
Westgate three
The three financial planning firms involved in the Aegis master trust system are also marketing the $46.5 million Westgate power centre property development in West Auckland.
Reeves Moses, Northplan and Broadbase are marketing the offer which seeks to raise $15 million through an issue of shares and bonds.
The issue is being underwritten up to $7.5 million and will remain open for six months from the date of registration.
Money Managers offers free entry
Money Managers has launched a special promotion offering free entry into all investment products for the month of February.
"Prompting the move is the huge number of New Zealanders who are invested in unit trusts, who no longer receive adequate advice," marketing director Alasdair Scott says.
"There are thousands of investors out there who have no adviser and receive no professional investment advice. These people have no idea whether or not their investments are still appropriate for them. In many cases they are not. There's no reason why they should have to pay another entry fee," managing director Doug Somers-Edgar says.
« Merger talks on again | Get your tax questions answered online » |
Special Offers
© Copyright 1997-2024 Tarawera Publishing Ltd. All Rights Reserved