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Susan Edmunds
Susan Edmunds
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Why the secrecy?

Tuesday 10th of February 2015

Milford issued a press release yesterday to say that it was the subject of the inquiry.

“The investigation concerns an individual trader employed by the firm and certain specific trades. Milford and the trader concerned are co-operating fully with the FMA. The investigation does not have any implications for client funds and has no impact on the day-to-day operations of Milford,” the statement said.

Rumours had been circulating about the inquiry since last year.

The trades in question are believed to have happened about a year ago. The inquiry is reportedly related to the actions of one trader.

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FMA outlines its latest expectations for advisers
Paul Flood: The danger is that the 'goalposts' (regarding what is acceptable or unacceptable adviser conduct) may be susceptible to change. Our 'Principles based' legal/regulatory environment lends itself to “prevalence-induced concept change” over time, perhaps not so much in the written laws and Code, as in the interpretation of the prescribed principles.
1 day ago Steve Wright
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Just a tip, if you use more than six, six letter words in a sentence you lose most Kiwi's. So avoid client/adviser confusion when writing your post or article if you would like it read and understood. Ironically, my last sentence was not likely read.
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FMA outlines its latest expectations for advisers
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