Financial Markets Authority opens inquiry into wholesale funds

The Financial Markets Authority has confirmed it has opened inquiries into some of the wholesale property investment firms which were given formal warnings yesterday.Paul Gregory, the Financial Markets Authority's (FMA) acting director of capital markets, said there may be more regulatory action to follow.“Based on the same work that resulted in the warnings, we have opened some inquiries, but they are in early stages so we cannot talk about them,” he told BusinessDesk.Many people don’t understand the differences between &...