NZF withdraws prospectus following FMA investigation
NZF Money has withdrawn its 2010 debt prospectus from the market following an investigation by the Financial Markets Authority.
NZF Money (NZF) has withdrawn its 2010 debt prospectus from the market following an investigation by the Financial Markets Authority (FMA).
FMA chief executive Sean Hughes said an inspection of the documents and records of NZF, a subsidiary of NZX-listed NZF Group Limited, revealed matters of concern regarding NZF’s disclosures of asset quality and liquidity.
After discussions between NZF and FMA, NZF agreed on 18 July to withdraw its prospectus and cease issuing secured deposits under its current offer documents.
Mr Hughes said FMA’s investigation was enabled by new powers of notification and inspection conferred by the Securities and FMA Acts.
FMA’s investigation is ongoing and FMA will take further action where necessary.
NBR staff
Thu, 21 Jul 2011
Thu, 21 Jul 2011
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
NZF withdraws prospectus following FMA investigation
15988