Walnuts, sledgehammers and sloppy paperwork

Would the available remedies be like taking a sledgehammer to a walnut? (Image: Depositphotos)

Mon, 04 Jul 2022

If routine breaches of the law are ignored by regulators, what does that say about the rule of law?And what recourse is there if the transgressors are offshore investors?I’ve long been aware that many offshore fund managers who invest in New Zealand shares take a somewhat slapdash approach to advising the NZ Stock Exchange (NZX) when they become 'substantial shareholders' of any of our companies or when that substantial shareholding changes.The Financial Markets Conduct (FMC) Act requires all shareholders reaching 5% of an NZX-lis...

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