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New Zealand's FMA censures Pathfinder Asset Management for misleading ads on ethical investments.
New Zealand's Financial Markets Authority has censured Pathfinder Asset Management for misleading investors about its KiwiSaver funds' ethical investments.
Ads claimed the funds avoided investments in fossil fuels and animal testing, but Pathfinder had exceptions for companies involved in these activities.
The FMA is concerned this could mislead consumers and damage investor confidence.
Pathfinder cooperated and removed the ads during the investigation.
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La FMA de Nueva Zelanda censura Pathfinder Asset Management por anuncios engañosos sobre inversiones éticas.