Licensing fund managers would have prevented Milford woes, FMA's Everett says

Fri, 26 Feb 2016

By Paul McBeth Feb. 26 (BusinessDesk) - High profile fund manager Milford Asset Management could have avoided cutting a deal with the Financial Markets Authority over alleged market manipulation by one of its portfolio managers had a licensing regime been in place, according to the watchdog's boss Rob Everett. Funds management is the last and biggest sector to go through the licensing regime set up by the Financial Markets Conduct Act, a piece of legislation designed to instill confidence in the capital markets, and the FMA is putting a...

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