Jarden-owned OMF made business payments from client account

Jarden boss James Lee says he agrees with the FMA’s findings and is aligning the former OMF teams with Jarden group practice. (Photo: supplied)

Dan Brunskill

Thu, 14 Oct 2021

The Financial Markets Authority has censured Jarden Securities after OM Financial was found to have mixed investor money with its own in a trust account.OMF is specialist derivatives broking house which trades financial instruments covering foreign exchange, carbon, options, equities, and futures markets.Jarden acquired the firm in 2019 including the derivative issuer licence under which the breaches occurred and therefore received the censure on Thursday.The specialist broker made 150 transfers – totalling US$1 million – of its own...

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