FMA raps St Laurence directors over knuckles with warning

Wed, 28 May 2014

By Paul McBeth May 29 (BusinessDesk) - The Financial Markets Authority has issued a warning to the directors of failed lender St Laurence over potential breaches of the Securities Act, deciding against pursuing them in court as the breaches occurred during a four-month period when reinvestment was low and that there was no evidence of dishonesty or personal gain in the alleged misconduct. The market watchdog has closed its investigation into the Wellington-based lender with formal warnings for Kevin Podmore, James Sherwin, Geoffrey McWill...

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