FMA Places Permanent Stop Order on Wisdom House Investment Partners Limited and Yuen Pok Loo

The New Zealand's Financial Markets Authority (FMA) has decided, pursuant to section 462 of the Financial Markets Conduct Act 2013, to place permanent stop order on Wisdom House Investment Partners Limited and Yuen Pok (Paul) Loo in response to their engagement in misleading and dishonest conduct. 

This action follows the FMA making an interim stop order​ to the entity and Mr Loo on 15 August regarding the same matter. The regulator remains satisfied that Mr Loo falsely held himself out as a financial adviser in an email to clients or potential clients.

As detailed in the official press release, FMA has opened a criminal investigation in relation to this matter and the stop order does not affect the FMA's ability to take further regulatory action.