UPDATE: FMA issues first stop order against company taking deposits for Auckland property investment

Mon, 27 Jul 2015

(Adds detail throughout) By Fiona Rotherham July 27 (BusinessDesk) - The Financial Markets Authority has issued its first stop order under the Financial Markets Conduct Act against Green Gardens Finance Trust Limited (GGFT) which has been taking deposits from people for Auckland property investments without complying with the law. The FMA says it started investigating the Auckland company following a referral and sent repeated requests to it for information but received no reply. It is warning people to be wary of doing business or dep...

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