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FMA tight-lipped on Hansa investigation

A financial advice firm is being investigated by the Financial Markets Authority and Serious Fraud Office.

Monday, July 11th 2016, 6:00AM

by Susan Edmunds

The FMA issued a notice saying Paul Clifford Hibbs and Hansa were under investigation but said no information could be revealed beyond that because of the work that was under way.

It is understood that Hansa was offering investment advice to high-net-worth individuals.

In court documents from 2010, Hibbs is described as an investment manager who ran a private investment company that helped wealthy investors participated in business ventures.

He also ran a venture company, Cameron Gladstone Commercial Ltd.

Companies Office records show Hibbs is the sole director of Hansa and lives in Christchurch.

The company was founded in March 2005 and last filed accounts in August 2015.

Sources in the local investment advice industry said they had not had dealings with Hibbs for a number of years.

The FMA said anyone who had had contact with Hibbs or Hansa in relation to financial advice, investment services or any other form of product or service was asked to get in touch or log a complaint through its website.

Tags: FMA

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