19 October 2017
18 October 2017
11 October 2017
28 August 2018
Prince and Partners Trustee Company (Prince) has admitted a series of failings in its role as trustee of Viaduct Capital Limited (Viaduct), a finance company that went into receivership in 2010. The civil proceedings brought by the FMA against Prince have been settled for $4.5 million.
It is the first time the FMA has brought a case under section 34 of the Financial Markets Authority Act 2011. These powers enable the FMA to exercise the rights of action of investors, in this case, the Treasury and investors who were not covered by the Retail Deposit Crown Guarantee Scheme. The settlement has been approved by the High Court, a condition for proceedings brought using these powers. Read in full.
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This guidance note outlines our view on what advisers or providers of KiwiSaver should talk to investors about, types of advice and the use of customer incentives.
This guide describes why good conduct matters and how high standards of conduct support fair, efficient and transparent markets.
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