5 Jul 2012

FMA seeks to recover related party loans

1:47 pm on 5 July 2012

The Financial Markets Authority says it will continue to try to recover $25 million in related party loans made by Perpetual Trust.

Perpetual is a subsidiary of Pyne Gould Corporation.

On Wednesday, the Court of Appeal dismissed Perpetual's appeal for name suppression.

FMA chief executive Sean Hughes has welcomed the ruling saying it emphasises the importance of transparency in markets.