By Phil Boeyen, ShareChat Business News Editor
Thursday 7th September 2000
|Text too small?|
Commerce Minister Paul Swain has welcomed the release of the discussion paper, saying there is a perception in the market that New Zealand's insider trading regime is inadequate.
"This review will be an important first step towards ensuring New Zealand has an insider trading regime that reassures investors that insider trading does not go unpunished and that the gains in the securities market are not limited to those with access to privileged information."
He says the discussion document focuses primarily on improving the prevention of breach, detection and enforcement of the current New Zealand insider trading regime and the possibility of introducing criminal penalties.
"The discussion document also seeks views on the definition of insider trading and the adequacy of the other core provisions of the legislation governing insider trading."
Submissions close on October 13.
No comments yet
Genesis Power cranks out bumper profit
US visitor numbers leap 38% in January
Tourism ratings get megabuck boost
Business watchdog ready for busy year
Minimal debt impact from airline recap
Export prices weather uncertainty
Figures show tourism was booming
Court clears path for Commerce Commission
Close watch on hydro lakes
State-owned powercos not for sale