New Zealand’s FMA Orders FX Firm Cambrian to Revise Misleading Materials
Posted: Thu May 19, 2016 5:40 am
New Zealand’s Financial Markets Authority (FMA) has today issued an order requiring that foreign exchange educator Cambrian Corporation Limited (Cambrian) revise certain of its marketing materials – including its website -which the agency said contained misleading or deceptive content, according to an FMA announcement.
Cambrian breached two provisions of the Financial Markets Conduct (FMC) Act, according to the FMA, in connection with its training and advices services relating to intra-day foreign exchange (Forex) trading, as per the Direction Order (Order) dated May 20, 2016.
The regulator cited that the statements Cambrian had made about its services in the materials were unsubstantiated ... (read more)