Law & Regulation

Is NZX right to clobber minnows' investors?

Jenny Ruth
Mon, 24 Feb 2020

If you believe NZX's listing rules exist to protect investors, it makes no sense to punish infractions that hurt them by fining those same investors.And NZX Regulation's choice of target is too often the market's minnows, those who would be most burdened by fines and least able to fight back.NZX's Disciplinary Tribunal is an independent body made up of 22 people with senior business and/or legal backgrounds, three being assigned to each case. It can only decide cases referred by NZX Regulation.The three cases decided so far in 2020 beg the ques...

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