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Fendal Finance

Friday, December 3rd 2010, 6:02PM

Case referred by Securities Commission to National Enforcement Unit of Ministry of Economic Development for prosecution

 

Defendants

Mowat Ussher

Charges

It is alleged that the Defendant allocated a security to a member of the public on behalf of Fendal Finance Limited without the subscriber receiving an investment statement before subscribing for the security.

Penalties

The charges were laid under section 59(1) of the Securities Act and carry a maximum penalty of a fine not exceeding $300,000.

Date filed

27 October 2010 in the District Court at Christchurch

Current status

First call on 9 December 2010.

 

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