FMA issues first stop order against Green Gardens Finance Trust taking public deposits

Mon, 27 Jul 2015

By Fiona Rotherham July 27 (BusinessDesk) - The Financial Markets Authority has issued its first stop order under the Financial Markets Conduct Act against Green Gardens Finance Trust Limited (GGFT) and is warning people to be wary of doing business or depositing money with the company. The stop order has been issued because the company’s website included an advertisement for an offer of debt securities that don’t comply with the act and has been made without lodging a product disclosure statement and without a trust deed as required unde...

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