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Ann: GENERAL: FMA: FMA issues Stop Order against Green Gardens...

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    • Release Date: 27/07/15 15:36
    • Summary: GENERAL: FMA: FMA issues Stop Order against Green Gardens Finance Trust
    • Price Sensitive: No
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    					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
    				
 
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