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FMA takes first ever action against a trustee company

Wednesday 20th of August 2014

The Financial Markets Authority has filed civil proceedings against the trustee for failed finance company Viaduct Capital.

The regulator alleges Prince and Partners Trustee Company  breached the obligations it owed to Viaduct investors and to the Treasury under the Retail Deposit Crown Guarantee.

It is taking action on behalf of investors and says the trustee's conduct resul...

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