FMA welcomes Commerce Commission settlement in Credit SaILS investigation

FMA has today welcomed the Commerce Commission's settlement with five companies in relation to the Commission's Credit SaILS investigation, which creates a settlement fund of $60 million to be distributed to investors who lost money when Credit SaILS failed in 2008.

Download the Commission's settlement agreement PDF.

FMA has entered into its own settlement with the Companies in respect of Credit SaILS. Download FMA's settlement agreement PDF.

Related

Case: Credit SaILS investigation