Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 


SFO: another financial services provider investigation


Media Release
1 February 2013

SFO confirms another financial services provider investigation
The Serious Fraud Office (SFO) today confirmed that it has commenced an investigation into the affairs of former financial services provider and former director of Auckland based Strategic Planning Group Limited, Andrew Hrothgar Robinson (39).

Acting Chief Executive of the SFO, Simon McArley, said the matter had been referred to the SFO from the Financial Markets Authority (FMA) and that the Office had been working closely with the FMA. Evaluation of the information now available has concluded that there are reasonable grounds to believe that an offence of serious fraud may have been committed in relation to investment funds received by Mr Robinson. The SFO have accordingly commenced a Part II investigation under the SFO Act.

The FMA opened an investigation into Mr Robinson late last year. On 21 December 2012, the FMA cancelled his Authorised Financial Adviser (AFA) license and Mr Robinson ceased being a director of Strategic Planning Group Limited on 23 December 2012. The FMA’s investigation is ongoing.

Simon McArley said, “We will continue to work closely with the FMA to ensure both agencies' resources are applied effectively in a coordinated and timely manner.”

The SFO would like to speak to anyone who has invested with or through Mr Robinson and believe that their investments may have been affected. The SFO can be contacted on 0800 109 800, or through the website www.sfo.govt.nz

--

Notes

Background to investigation
The Financial Markets Authority (FMA) cancelled the Authorised Financial Adviser (AFA) license of Andrew Robinson on 21 December 2012. The FMA is also investigating Mr Robinson following a complaint made against him. He is no longer registered as a financial services provider.

Role of the SFO
The Serious Fraud Office (SFO) was established in 1990 under the Serious Fraud Office Act in response to the collapse of financial markets in New Zealand at that time.

The SFO operates three investigative teams:
• Evaluation & Intelligence;
• Financial Markets & Corporate Fraud; and
• Fraud & Corruption.

The SFO operates under two sets of investigative powers.

Part I of the SFO Act provides that it may act where the Director “has reason to suspect that an investigation into the affairs of any person may disclose serious or complex fraud.”

Part II of the SFO Act provides the SFO with more extensive powers where: “…the Director has reasonable grounds to believe that an offence involving serious or complex fraud may have been committed…”
The SFO’s Annual Report 2012 sets out its achievements for the past year, while the Statement of Intent 2012-2015 sets out the SFO’s three year strategic goals and performance standards. Both are available online at: www.sfo.govt.nz

end

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Gordon Campbell: On Bank Scandals (And Air Crashes)

Last month, the Australian Securities and Investment Commission (ASIC) filed proceedings against Westpac over activities that have some distinct echoes of the Libor scandal. More>>

Budget: Health Funding Must Keep Up With Need

NZNO: “The nursing team has been doing more with less for years. It’s getting to the point that we’re really worried about our colleagues, our patients, our jobs and the level of health care available for people in our country." More>>

ALSO:

Emissions Inventory: Time For The Government To Do The Right Thing

It’s time for the National Government to step up and do the right thing to reduce climate pollution as data shows New Zealand’s greenhouse gas emissions are higher than ever, the Green Party said today. More>>

ALSO:

Budget 2016: More Partnership Schools To Open

Seven new schools will join the eight Partnership Schools already open, along with further new schools opening in 2017. “The growth of this policy is a reflection of the high level of interest from educators and community leaders,” Mr Seymour says. More>>

ALSO:

No Correspondence With English: Did Brownlee Make Up Sale Of Navy Ships ‘On The Hoof?’

Having revealed that several Royal New Zealand Navy vessels have not left port in years, New Zealand First is now asking the Minister of Defence to prove he did not come up with the idea of selling HMNZS Taupo and Pukaki until the media asked him. More>>

Housing Plans: Labour- Abolish Auckland Urban Boundary
The Government should rule out any possibility of an urban growth boundary in Auckland Council’s Unitary Plan if it is serious about fixing the housing crisis. More>>
Greens - State House Solution
The Homes Not Cars policy allows Housing New Zealand to retain its dividend and, in addition, would refund its tax, to spend on the emergency building of around 450 new state houses. More>>

ALSO:

Houses And Taxes: Post-Cabinet, Pre-Budget Press Conference

The Prime Minister said that the pre-budget announcements showed that his Government is “investing in a growing economy”. He re-affirmed the National Government’s commitment to lowering personal tax rates but that any such change must fit with the fiscal reality of the time. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news