Update: FMA defends formal warning over prosecution in anti-money laundering breach

Tue, 03 May 2016

(Update: adding comment and further info from FMA) By Fiona Rotherham May 3 (BusinessDesk) - The Financial Markets Authority has defended making a formal warning rather than taking legal action against sharebroking firm Craigs Investment Partners for anti-money laundering breaches – the second warning it has issued since the 2013 Anti-Money Laundering and Countering Financing of Terrorism Act came into force. In a settlement with the market regulator, Craigs, one of New Zealand’s largest investment advisory and management firms, admitt...

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