Financial Markets Authority warns against unlicensed investment scheme run by crypto company
“He did so without holding an MIS manager licence, and without providing the required disclosure, which are both contraventions of the Financial Markets Conduct Act 2013.”
Vaughan also incorrectly told his investors in a newsletter that he had applied for an MIS manager’s licence and that it was under FMA review.
“I can confirm that neither Mr Vaughan nor CPL has ever applied to the FMA for any form of market services licence.”
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Unger promised that Vaughan would be held to account.
“One of the main purposes of the market services licensing regime is to require licensees to act with integrity, diligence and skill and in the best interests of investors using their services.
“We consider that CPL…
