Law & Regulation

FMA fears ‘ugly confluence’ in wholesale property investments

Pattrick Smellie
Tue, 26 Oct 2021

FMA fears ‘ugly confluence’ in wholesale property investments

Social media is not FMA CEO Rob Everett's go-to for investment decisions. (Image: Supplied)

Pattrick Smellie
Tue, 26 Oct 2021

The outgoing head of the Financial Markets Authority (FMA) suspects many property investments advertising high yields to wholesale investors haven’t performed as well as they claimed they would.In an exit interview as he prepares to leave the financial market watchdog after seven years in the role, chief executive Rob Everett told BusinessDesk that they're "about to kick off a big piece of work very soon” in the area of wholesale investment offers to target so-called ‘sophisticated’ investors.“Our fear is...

Unlock all stories
free for 10 days

Trustworthy, balanced journalism every day from our growing team of New Zealand business reporters and commentators, plus more in our weekend magazine section, The Life.

Instant News Alerts based on keywords you choose or journalists you follow
Our Daily Digest of all stories at 6am, midday or 6pm
Comprehensive business and markets coverage
News via email, web and Apple/Android apps

Try for 10 days without paying and if you’re not convinced cancel with just two clicks.

Find out more

Subscribe now

Name

E-Mail Address

Password

Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Confirm Password

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Cardholder's Name

Card

You will be charged in 10 days unless you cancel beforehand. We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service {{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Or Subscribe with Google

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Markets FREE

A2 shares plunge over FDA formula deferral

Staff reporters | Wed, 10 Aug 2022

A2 shares dropped 11% to $5.01 in early morning trading opened but made up a bit of lost ground by the end of the day.

Tourism

Tourism needs to 'embrace' job-sharing to spur recovery – report

Brent Melville | Wed, 10 Aug 2022

An industry that lost more than a third of its workforce during the pandemic needs to start thinking differently about work sharing.

Primary Sector

A2 Milk gets shot down because of issues in application

Rebecca Howard | Wed, 10 Aug 2022

The FDA continues to work around the clock to address current supply challenges, including reviewing a number of requests from manufacturers for enforcement discretion, as quickly as possible, a spokesperson said.

FMA fears ‘ugly confluence’ in wholesale property investments

Subscribe now

Or Subscribe with Google

Not convinced yet?

Your company has a subscription

Team