‘Low ball’ offers still find takers, despite regulation, says FMA

Thu, 27 Mar 2014

By Suze Metherell March 27 (BusinessDesk) – The Financial Market Authority said complaints about ‘low ball’ unsolicited offers for stocks and bonds have dropped since new regulations last year, but some investors are still accepting deals at discounted rates. The new regulations to govern how unsolicited offers to investors can be made, including stricter disclosure requirements and imposing minimum offer and cancellation periods, came after a series of deeply discounted offers made by Bernard Whimp were deemed misleading and deceptive by t...

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