FMA
27/07/2015 15:36
GENERAL
NOT PRICE SENSITIVE
REL: 1536 HRS Financial Markets Authority
GENERAL: FMA: FMA issues Stop Order against Green Gardens Finance Trust
Media release
MR No. 2015 - 31
27 July 2015
FMA issues first Stop Order against Green Gardens Finance Trust Ltd
The Financial Markets Authority (FMA) has issued a Stop Order against Green
Gardens Finance Trust Limited (GGFT) and warns the public to be wary of doing
business or depositing money with this company.
The Stop Order is published here and prohibits GGFT from:
o offering, issuing, accepting applications for or advertising debt
securities
o accepting further contributions, investments or deposits for debt
securities.
The Stop Order is in response to concerns regarding the website
http://ggfinance.co.nz and the offers of debt securities advertised on the
website.
The FMA can issue a Stop Order under the Financial Markets Conduct Act, if
someone is offering investments without complying with the law. This is the
first Stop Order the FMA has issued.
Liam Mason, FMA's director of regulation said, "Green Gardens Finance is
offering investments illegally and this Stop Order requires the company to
comply with the relevant laws and warns people not to give money to the
company. It is an offence to fail to comply with a Stop Order."
If anyone has deposited funds with GGFT they should contact the FMA on 0800
434 567 (+64 3 962 2698 for overseas callers), or contact us online here.
ENDS
Contact:
Andrew Park
021 220 6770
09 967 1215
[email protected]
End CA:00267485 For:FMA Type:GENERAL Time:2015-07-27 15:36:22