FMA orders freeze for wholesale investment fund

Mon, 28 Mar 2022

The Financial Markets Authority (FMA) has told residential property developer Longhorn Partnership Fund to stop taking new money and promoting an offer to wholesale investors.The market watchdog issued an interim stop order to The One Management GP, which manages the Longhorn fund, and Auckland real estate agency James Law Realty, which promotes the fund.The FMA said it was “concerned” about statements about the fund’s prospective returns and the “level of risk in the investment”.Stop orders are a regulatory tool t...

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