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FoxPlan representatives should not have provided investment planning advice and misrepresented their qualifications.
Wellington financial services firm FoxPlan has been censured by the Financial Markets Authority (FMA) for a series of breaches under the Financial Advisers Act but no court action will follow.
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Wednesday, 28 July 2021, 10:03 am
The Financial Markets Authority (FMA) - Te Mana Tātai
Hokohoko – has formally censured Wellington-based
financial services firm FoxPlan Ltd, after one of its
nominated representatives provided services he was not
permitted to give and other representatives offered services
to clients they were not permitted to give.
Following
a monitoring review in late 2020, the FMA found one of
FoxPlan’s Auckland-based nominated representatives¹ had
provided an investment planning service to some clients
since mid-2018. Under the Financial Advisers Act (FA Act)
2008, only Authorised Financial Advisers (AFA) were
permitted to provide this service, which involves designing
a plan based on an individual’s financial situation and
Press Release – Financial Markets Authority The Financial Markets Authority (FMA) – Te Mana Ttai Hokohoko has formally censured Wellington-based financial services firm FoxPlan Ltd, after one of its nominated representatives provided services he was not permitted to give and other representatives …
The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – has formally censured Wellington-based financial services firm FoxPlan Ltd, after one of its nominated representatives provided services he was not permitted to give and other representatives offered services to clients they were not permitted to give.
Following a monitoring review in late 2020, the FMA found one of FoxPlan’s Auckland-based nominated representatives¹ had provided an investment planning service to some clients since mid-2018. Under the Financial Advisers Act (FA Act) 2008, only Authorised Financial Advisers (AFA) were permitted to provide this service, which involves designing a plan based o
New Zealand Financial Markets Authority Censures FoxPlan For Providing And Offering Unpermitted Financial Advice Services mondovisione.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mondovisione.com Daily Mail and Mail on Sunday newspapers.