FMA was looking at Du Val statutory management on day of raids

Kenyon Clarke says police and the FMA spent almost 12 hours at his home on August 2. (Image: NZME)

Fri, 04 Oct 2024

A police dawn raid with Financial Markets Authority staff on the home of Du Val group's founders was still under way when officials from the latter were briefing Commerce Minister Andrew Bayly that placing the group in statutory management could be the next step.BusinessDesk has obtained a briefing to Bayly from a senior Financial Markets Authority (FMA) manager, marked "0800 2 August", just before images began surfacing of police with firearms carry-cases and evidence boxes entering and leaving the Remuera home of Du Val co-...

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