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Syndicated Trusts Limited – Stop Order

Page last updated: 23 July 2019

The Financial Markets Authority (FMA) has issued a Stop Order against Syndicated Trusts Limited (STL), ordering the company to stop advertising or accepting money for financial products. The FMA warns New Zealanders to be wary of dealing with the company.

23 July 2019

Syndicated Trusts Limited – Stop Order 

The Stop Order prohibits STL from certain activity, including:

  • distributing communications and advertisements about itself or the offer of financial products,
  • accepting applications or money for financial products.

See media release

Reason for stop order

The Stop Order was issued because STL contravened several aspects of the Financial Markets Conduct Act. The advertisements either failed to make it clear that STL was only seeking preliminary interest for the offer or STL failed to prepare and lodge a product disclosure statement with the Registrar before making the advertisements.