NZ law firms band together to point out flaws in securities law overhaul

By Paul McBeth June 14 (BusinessDesk) - New Zealand's top law firms went against type and banded together to give Parliament free advice to stamp out flaws in the proposed overhaul of the nation's decades-old Securities Act. Ditching a provision to make advisers on offer documents culpable if things go wrong was at the top of the wish-list of the joint law firms' oral submission on the Financial Markets Conduct Bill. Simpson Grierson partner Don Holborow told Parliament's commerce committee that adding advisers to the list of liable parties...