Tag Archives: FMA

 Milford Asset Management agreed to pay $1.5 million to settle with the Financial Markets Authority over alleged market manipulation by one of its traders, rather than become embroiled in what could have been a prolonged legal battle, managing director Anthony Quirk says. Quirk told BusinessDesk the settlement was “essentially a commercial decision”. The Auckland-based fund manager denied claims it’s liable for any breaches of the …

Britannia Financial Services, a UK pension transfer agency whose advertisements feature “financial motivator” Brendon Johnson, has tweaked its website and paused television advertising after the Financial Markets Authority raised concerns about people feeling “press ganged” into shifting retirement funds. The markets watchdog has raised concerns about some advertising which emphasises the need to transfer UK pensions before April 2015 to avoid incoming tax and …

The Financial Markets Authority won’t chase South Canterbury Finance in a civil claim, saying it can’t justify the cost of doing so and leaving it to Crown Asset Management (CAML) to pursue the failed lender’s directors. The market watchdog today closed its inquiries into a potential civil claim against SCF, two days after former director Ed Sullivan was this week sentenced to …

Prime Minister John Key has been handed a cast-iron excuse to rid his government of its troublesome Justice Minister, Judith Collins, using an email supplied anonymously to his office yesterday which appears to show Collins conspiring with the Whaleoil blog run by National Party activist Cameron Slater to unseat the then head of the Serious Fraud Office, Adam Feeley, in 2011. Collins was …