Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Franks Fronts Up To New Zealand Investors

ACT MP Stephen Franks will front up to New Zealand investors in an interactive insider trading Q&A on Tuesday 4 July at 11am.

Mr Franks will be answering questions on business website ShareChat about New Zealand insider trading laws and their effects on New Zealand investors.

Mr Franks is currently bringing an insider trading case against Fletcher challenge ex-chairman Kerry Hoggard for Fletcher Challenge shareholders Roger Kerr and Catharine Franks. For obvious reasons he will not discuss details of that case.

“There is a widespread view among investors that insider trading is a problem for New Zealand. That perception is a serious issue for New Zealand, whether or not it is justified.

“I am happy to discuss these issues from my experience as a commercial lawyer and time spent on the Securities Commission. I hope to explore the limitations of insider trading as a criminal offence, the advantages and disadvantages of our current law and where Commerce Minister Paul Swain’s review should go.

“I believe any law, including securities law, can only work when people believe in it. New Zealand business leaders must be genuinely outraged by cheaters, and support strict enforcement of it. That will not happen while the law catches ethical or morally innocent behaviour, as well as dishonesty. But when cheating on the rules is seen it must be ruthlessly enforced, with the open endorsement of business leaders.

“Politicians have responded to complaints about crooked business practice by promoting new laws, then letting all the usual enforcement problems stop them working. The problem is just shifted if we simply change the rules. The real problem is a lack of determination to enforce basic rules against dishonesty.

“I look forward to informing ShareChat users to the true potential ferocity of our insider trading laws,” said Stephen Franks. About ShareChat ShareChat is New Zealand's first discussion group and financial portal for sharemarket investors. Launched eleven months ago, ShareChat's community has shown strong growth, providing substantial information and vibrant discussion on the New Zealand and overseas sharemarkets.

ShareChat has three areas where investors and traders can chat - an Email forum, online message boards, and a live irc room. ShareChat also provides sharemarket articles and links to major financial news stories. http://www.sharechat.co.nz/

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

The Gili Islands: A Community Earthquake Recovery Effort

Joseph Cederwall travelled to the Gili Islands in October 2018 to talk to locals about their experiences of the event and witness the impact and the rebuild efforts on this unique ecotourism destination.

2018 was a difficult year for the Indonesian archipelago. This chain of fragile and largely low-lying islands is situated on a particularly unstable segment of the Pacific rim of fire. Last year the islands were hit by a series of devastating natural events including a series of Lombok, Sulawesi and Java based earthquakes and resultant tsunamis.More>>

 
 

DHBs "Prepared": Junior Doctors Strike Tuesday, Wednesday

The needs of acute patients will be met during tomorrow's junior doctor strike, a DHB spokesperson says... Almost 3000 junior doctors are expected to walk off the job, which will affect all DHBs apart from West Coast District Health Board. More>>

ALSO:

Gordon Campbell: On MBIE’s Social Media Scam

Given the ambit of MBIE’s work, almost any form of social activity could qualify as being part of MBIE’s brief, so the privacy threats posed by this training programme are extensive. The current oversight safeguards seem threadbare to non-existent. More>>

ALSO:

JusTrade: New Campaign For A 21th Century Trade Agenda

‘Critique is no longer enough. If anything is to really change, we need to step away from the existing framework and take a first-principles approach to rethinking what will work for the 21st century.’ More>>

Earlier:

Gordon Campbell: Thompson + Clark Are The Tip Of The Iceberg

How can we tell where and how any lines are being drawn? Oversight is not exactly robust. If it were, Thompson + Clark would have been out of contention for state security work ten years ago. More>>

Trainers: Taratahi Institute of Agriculture In Interim Liquidation

Taratahi employ 250 staff and this year has provided education to over 2500 students. Taratahi owns and manages 8 farms throughout the country. More>>

ALSO:

IPCA Report: Complaints About Deputy Commissioner Wallace Haumaha

The Authority has found that DC Haumaha acted improperly by approaching staff and others to provide information to support him to refute the allegations about his 2016 conduct, or solicited other staff to do so on his behalf... More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels