FMA warns Hurricanes sponsor Fullerton Markets over sloppy anti-money laundering processes

Thu, 23 Nov 2017

By Paul McBeth Nov. 24 (BusinessDesk) - The Financial Markets Authority has warned Fullerton Markets, a major sponsor for the local Hurricanes rugby team, over sub-standard anti-money laundering systems and threatened legal action may follow if the issues aren't fixed. The market watchdog issued a formal warning to the Wellington broking firm today, saying Fullerton didn't have robust systems to deter money laundering and the financing of terrorism, didn't carry out sufficient due diligence into its customers and failed to take reasonabl...

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