MEDIA RELEASE: WEDNESDAY 11 MARCH 2009

 
EUFA

(Exposing Unacceptable Financial Activities Inc Soc)

www.eufa.co.nz

EUFA Petition Presented To Parliament 

A petition was presented to Parliament today for a Royal Commission of Inquiry into the Finance Industry.  The Petition of Suzanne Edmonds submitted on behalf of Investors was tabled by Act MP John Boscawen. 

The petition will be support by a further submission signed by investors expected to be gathered in coming weeks.

Coordinator of EUFA Suzanne Edmonds said “Now that the petition has been tabled in Parliament EUFA members will be seeking the support of the public to sign a supporting document to achieve a Royal Commission of Inquiry.”

Members of EUFA have overwhelmingly supported the petition following 18 months of uncertainty and suffering from frozen or lost savings.

People who have been dubbed “Mum and Dad investors” are ‘New Zealand’s savers’ who acted responsibly in preparing to be independent in older age and who had ‘savings’ they expected were being held safe.

None of these people expected the industry to be running so out of control.

Mrs Edmonds adds "Critics of Mum and Dad Investors are actually ill informed and lack knowledge of the reality of how the majority of investments actually transpired".

ENDS

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