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New Zealand Regulator Censures Western Union for License Breaches

New Zealand Regulator Censures Western Union for License Breaches

The company failed to maintain net tangible asset requirements at certain times.

However, it maintained the ability to replenish the required NTA levels.

New Zealand’s financial industry watchdog, Financial Markets Authority (FMA), has censured Western Union Business Solutions (Australia) Pty Ltd for violating net tangible assets (NTA) requirements for a derivatives issuer license holder.

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