Decision to cancel licence for crowdfunder Equitise ‘not taken lightly’ – FMA

FMA director of specialist supervision and response, Peter Taylor. (Image: FMA)

Wed, 17 Apr 2024

Crowd funder Equitise has had its New Zealand licence revoked after a history of repeated fines and failures to comply with legal requirements.The Australian-based company has been licensed to provide equity crowdfunding services in NZ since 2014 and in Australia since 2018, where it continues to operate.According to its website, Equitise has facilitated 162 successful offers and raised $93 million.Proportionate responseIn an action the regulator said was “appropriate, fair, and proportionate”, the Financial Markets Authority (FMA)...

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