FMA suspends The Property Crowd's crowdfunding licence for multiple violations

Thu, 22 Dec 2022

The Financial Markets Authority (FMA) has suspended the crowdfunding provider licence of The Property Crowd (TPC) after multiple violations of its obligations.According to TPC's website, the company offers a platform for investors to acquire a fractional ownership share in real estate through its PropertyShares product.Paul Gregory, the FMA's acting director of capital markets, said TPC had shown a poor understanding of its regulatory obligations through its ongoing non-compliance.“The ongoing lack of information from TPC hinders...

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