What’s at stake: Two prominent local promoters of Validus got a written warning from the Commerce Commission.
Background: The Dubai-based multi-level marketing scheme was hit with a permanent stop order by the Financial Markets Authority for offering unlicensed financial products in July.
A pair of prominent Validus promoters who hosted more than 20 in-person events were given a written warning from the Commerce Commission, after it determined they stopped hawking the multi-level marketing scheme and the risk to consumers was low.
What’s at stake: Two prominent local promoters of Validus got a written warning from the Commerce Commission.
Background: The Dubai-based multi-level marketing scheme was hit with a permanent stop order by the Financial Markets Authority for offering unlicensed financial products in July.
