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New Zealand's High Court rules that valid professional certificates can confirm eligible investor status in wholesale offers.
A New Zealand High Court ruling clarifies the rules for qualifying as an "eligible investor" in wholesale investment offers under the Financial Markets Conduct Act.
The Court confirmed that offerors can rely on certificates validated by financial advisers, lawyers, or accountants, as long as the grounds for certification are valid and not incapable of supporting the claim.
The FMA welcomed the decision, emphasizing that offerors must verify certificate validity and that professionals must ensure accurate certifications.
The ruling supports confidence in wholesale markets while reinforcing safeguards to prevent misleading investors into high-risk, unregulated investments.
El Tribunal Superior de Nueva Zelanda dictamina que los certificados profesionales válidos pueden confirmar el estatus de inversor elegible en las ofertas mayoristas.