Forsyth Barr, one of the lead managers for the sell-down of MightyRiverPower, has criticised a Commerce Commission report into the broker’s role in the sale of complex and ultimately toxic securities, saying its creates an “imbalanced impression” and “contains factual errors.” In December, the broker and French investment bank Credit Agricole cut a $60 million settlement giving investors in NZX-listed …

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Brokerage Forsyth Barr and French bank Credit Agricole avoided a lawsuit over the sale and promotion of the disastrous NZX-traded Credit Sails notes because the regulator deemed a settlement would return more to the mostly retired investors. Commerce Commission chairman Mark Berry told media the $60 million settlement announced in December was in the best interests of the investors who …