10 August 2011
SFO confirms investigation into advisory firm, Australian Securities (NZ) Limited
The Serious Fraud Office (SFO) has confirmed today that it is undertaking an investigation into financial advisory firm
Australian Securities (NZ) Limited (Australian Securities), following allegations that investors may have been
fraudulently misled.
Australian Securities is based in Auckland and has a number of New Zealand based clients. It specialises in trading
derivatives and options on the futures market of the Australian Stock Exchange (ASX).
The SFO undertook a preliminary investigation into the company in May. This has resulted in the matter being upgraded to
allow the Office to exercise more extensive investigative powers.
SFO Chief Executive Adam Feeley says there are reasonable grounds to believe an offence involving serious or complex
fraud may have been committed.
“While the matter is at a relatively early stage and no adverse conclusions have been reached, we believe it is in the
public interest for current or future investors to be aware of SFO’s inquiries,” he says.
Interviews with associated parties will commence immediately in order to determine whether the company may pose an
ongoing risk to investors. Due to the complex nature of the investigation, independent experts will also be engaged in
order to assist the SFO.
ENDS