Sharechat Logo

Commerce Commission's restricts Curtin's role after private legal proceedings filed

Tuesday 9th March 2010

Text too small?

Donal Curtin’s role at the Commerce Commission has been restricted, to prevent any conflict of interest after further private party court proceedings were filed against him.

The legal proceedings, issued recently and last year in the Auckland High Court, relate to Curtin’s former role as a consultant to defunct advisory firm Vestar Financial Services.

“Until all of the proceedings are resolved, Curtin has been allocated to tasks that do not involve him in decision-making related to enforcement actions under either the Fair Trading Act or Credit Contracts or Consumer Finance Act,” the Commission said in a statement.

Curtin became a member of the Commission in November 2002 and was deputy chairman between July 2008 and March 2009 before resigning that role, but continuing as a full commissioner. In September 2008 the Commission announced an inquiry into whether Curtin provided an adequate level of disclosure in relation to his involvement with finance and investment companies Vestar, Mint Asset Management and MFS.

Disclosure of conflicts of interest by members of Crown entities is required under the Crown Entities Act 2004, and the Commission appointed Hugh Rennie QC to conduct the inquiry. Rennie’s brief was to investigate the facts surrounding the issue of disclosure, and his report back in November 2008 concluded that while some required disclosures were not made, there was no evidence that the failure to make these was intentional. Curtin made it clear to Rennie that he sought to comply and believed he had complied with disclosure of interest.

 

 

 

Businesswire.co.nz



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

VCT - Operational performance for the year ended 30 June 2024
Challenge to banks the way to go
Bigger returns or lower risk?
NPH - Director Appointment
July 19th Morning Report
Wellington International Airport Ltd (“WIA040”) - Maturity
Devon Funds Morning Note - 18 July 2024
CNU - Commerce Commission releases draft Price Quality decision
Precinct FY24 Annual Results and Webcast Details
Scott Technology appoints new CEO