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NZX Discipline rules against former Access chairman

By Paul McBeth

Tuesday 21st October 2008

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Peter Marshall, former chairman of failed firm Access Brokerage, was censured and fined by NZX Discipline after the Serious Fraud Office successfully prosecuted him earlier this year.

Marshall was found guilty of fourteen charges of false accounting with intent to defraud and making false statements with intent to defraud between August 2001 and July 2004 by a Wellington District Court jury in April this year.

“Marshall could not have been unaware of the risk to client assets as a result of Acccess’ conduct,” the NZX Discipline ruling stated. Mr Marshall’s conduct was considered to be “of a serious nature.”

In its September 23 ruling, NZX Discipline ordered Marshall to pay $220,000, and may also seek costs. It publicly censured Marshall today, who is currently serving three years in jail.

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