Light needs shining on the ‘dark side’ of investing

Some say wholesale investing is the dark side of the sector. (Image: Michael Craig)

Mon, 30 Sep 2024

InvestNow once described New Zealand’s wholesale investor regime as the dark side of the moon.Beyond the brightly lit licensed fund hemisphere, a different investment industry operates in the regulatory shadows, it opined.What prompted the investment platform to wax lyrical was the Financial Markets Authority’s move to shine a torch into the void of wholesale investment products.The regulator had seen a worrying increase in complaints about offers that make use of the wholesale investor exclusion in the Financial Markets Conduct Act...

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