Milford confirms it is focus of FMA investigation
Milford Asset Management has confirmed market rumours that it is at the centre of an FMA investigation into market manipulation.
Monday, February 9th 2015, 3:29PM 
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Milford Asset Management has confirmed that it is working with the Financial Markets Authority in respect of a market investigation.
It says, in a statement, that the investigation concerns an individual trader employed by the firm and certain specific trades.
Milford and the trader concerned are co-operating fully with the FMA, the company says.
The statement goes on to say: "The investigation does not have any implications for client funds and has no impact on the day-to-day operations of Milford."
"Milford looks forward to completion of the investigation."
It is believed that the trades in question were conducted about a year ago. They came to the FMA's attention from the NZX.
Milford Asset Management executive director Brian Gaynor said he could not comment because of a confidentiality agreement with the FMA.
BLOG: Is there any truth to market manipulation rumours?
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