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  4. Stop order: Prohibition to offer debt securities issued to Green Gardens Finance Trust Limited

Stop order: Prohibition to offer debt securities issued to Green Gardens Finance Trust Limited

The FMA has issued the order because:

  • the website of Green Gardens Finance Trust Limited at http://ggfinance.co.nz includes an advertisement for an offer of debt securities that does not comply with section 91 or 92 of the FMC Act
  • the website of Green Gardens Finance Trust Limited at http://ggfinance.co.nz is a restricted communication which is likely to mislead or confuse in a material particular
  • Green Gardens Finance Trust Limited appears to be making a regulated offer of debt securities without preparing and lodging a product disclosure statement in breach of section 48 of the FMC Act
  • Green Gardens Finance Trust Limited appears to be making a regulated offer of a debt security without a trust deed that complies with the FMC Act and without appointing a supervisor in breach of section 103 of the FMC Act.

View the media release.