FMA warns New Zealanders to steer clear of General Equity

Tue, 30 Sep 2014

By Suze Metherell Sept. 30 (BusinessDesk) - The Financial Markets Authority has warned New Zealanders to exercise "extreme caution" when dealing with building society General Equity and has ordered the company to display the regulator's warning on its website. The Auckland-based registered building society is not a registered deposit taker or subject to the oversight of the Reserve Bank and conducts most of its business offshore, the regulator said in a statement. The company has not issued shares to the public and the FMA was not aware o...

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