FMA can issue a Stop Order under the Financial Markets Conduct Act, if someone is offering investments without complying with the law. This is the first Stop Order the FMA has issued.
We have issued a Stop Order against Green Gardens Finance Trust Limited (GGFT) and warns the public to be wary of doing business or depositing money with this company.
27 July 2015
Stop order: Prohibition to offer debt securities
Stop order prohibits GGFT from:
- offering, issuing, accepting applications for or advertising debt securities
- accepting further contributions, investments or deposits for debt securities.
Reason for stop order
The Stop Order is in response to concerns regarding the website http://ggfinance.co.nzand the offers of debt securities advertised on the website.
See media release.