How super is the market regulator?

How super is the market regulator?
Simon Power was a much younger fellow when he embarked on securities law reform. (Image: Getty)
Paul McBeth
The Financial Markets Authority did everyone a favour by releasing its lessons learned from the disgraceful Barry Kloogh fraud. Not only did it get to make a plea to policymakers to expand its regulatory perimeter, but it also cleared wrap platform Consilium and custodian FNZ of any wrongdoing while also identifying some substandard industry practices at the time. Hooray – another chance for the Financial Markets Authority (FMA) to issue another set of guidelines! Bank of New Zealand took a wee slapping over how rigorous it...

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Rakon investor raises issues over failed bid
Markets

Rakon investor raises issues over failed bid

Minority investor Mike Daniel has raised fresh questions about a $400 million bid that was ultimately snubbed by Rakon’s board.The NZ Shareholders Association (NZSA) shares Daniel’s disappointment that millions were spent on takeover talks with nothing to show, but also offered s...

New Talisman Gold Mines halts trading
Markets

New Talisman Gold Mines halts trading

On Monday, Australian and New Zealand Exchange-listed New Talisman Gold Mines halted NZX trading.The halt follows the Australian Securities Exchange's (ASX) decision to suspend trading in New Talisman Gold Mines securities on that exchange following the release of the company...

Glenbrook to get big grid-scale battery as Contact teams up with Tesla
Markets

Glenbrook to get big grid-scale battery as Contact teams up with Tesla

Contact Energy has teamed up with electric car company Tesla to build a grid-scale 100-megawatt battery at Glenbrook at a cost of up to $163 million.The company said the battery would enhance Contact’s renewable-energy flexibility and provide enough electricity for more than two...

Fletcher provides NZICC updates, hands over Horizon Hotel to SkyCity
Infrastructure

Fletcher provides NZICC updates, hands over Horizon Hotel to SkyCity

Fletcher Building has settled remaining contract works insurance claims with the New Zealand International Convention Centre project insurers.Also known as builders' insurance, contract works insurance (CWI) covers construction that is underway.In February, Fletcher determine...