FMA investigates foreign exchange firm Morgan Cooper

The Financial Markets Authority is continuing its clamp down on foreign exchange firms, launching an investigation into Morgan Cooper Ltd and Rodney McCall over potentially breaching market legislation. 

The market watchdog received a complaint about Morgan Cooper, which claims to offer foreign exchange programmes, and encourages anyone who has been contacted by McCall, who's also known as Rodney Crichton, to contact the FMA, it said in a statement. 

Morgan Cooper was incorporated in September last year and lists Auckland-based Vanessa Crichton as its sole shareholder and director. 

The market watchdog has been cracking down on foreign exchange firms, some of which have been kicked off the Financial Services Provider Register for not providing local services. Last month it ordered FX education firm Cambrian Corp to change the way it markets itself, while last year it started investigating FX firm Arena Capital over fears investor funds were at risk.

BusinessDesk.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

FRW - Board update
THL - BGH Consortium confidentiality agreement executed
MEL - Meridian receives final approval on contingent storage
July 3rd Morning Report
KMD Brands completes share consolidation
July 2nd Morning Report
SPK - Spark notes Government spectrum policy announcement
SML - Synlait finalises refinancing and advises changes to balan
KMD strengthens balance sheet with debt refinance
GXH - Green Cross Health Limited - Annual Shareholders' Meeting