CLSA banned from offering derivatives to retail investors

Tue, 22 Sep 2020

The Financial Markets Authority has blocked financial services firm CLSA Premium New Zealand from offering derivatives to retail investors.The FMA said the subsidiary of a Hong Kong-listed company failed to meet some audit and assurance obligations and the regulator was not confident CLSA would do so “in the near future.”Conditions have been imposed on CLSA’s derivatives issuer licence that prevent the firm from making an offer to, or receiving funds from, retail investors in relation to derivatives until it meets its obligati...

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