#4 Wholesale property investments report

FMA Director of Capital Markets Paul Gregory discusses the FMA’s recently-published review of the wholesale property investment sector, which led to the FMA issuing formal warnings to several entities.He explains why the FMA conducted the review and what the major findings were, particularly in relation to some firms using deficient eligible investor certificates. Mr Gregory says the report and warnings have put the industry on notice and the FMA has reinforced its expectations about what firms need to be doing to comply.See:Media release: FMA formally warns wholesale property investment firms after discovering non-compliant practicesReport: Thematic review of use of the wholesale investor exclusion