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Securities Commission Slow To Respond To Complaint

ACT Finance Spokesman Rodney Hide said today he was yet to hear from the Securities Commission following his complaint two weeks ago regarding Jim Anderton's breach of the Securities Act and Securities Regulations.

"I know they must be treating my complaint very seriously ' they are taking long enough. But I'm quite surprised that I have not had an acknowledgement of my complaint by now.

"It's not as though my initial questions were hard. I simply asked whether the Securities Commission realised that Jim Anderton had breached the Securities Act and Securities Regulations. I also asked what action they had taken.

"The Treasury was quick to spot Mr Anderton's breaches. It will be interesting to learn if our securities watchdog is as vigilant.

"Mr Anderton's breach is attracting considerable attention from the business community.

"Business people want to be sure that the rules apply equally to everybody.

"Mr Anderton campaigned on cleaning up what he called the 'wild, wild west' of New Zealand's securities market. It's ironic that Mr Anderton has now proved himself to be the cowboy.

"I am eagerly anticipating a response from the Securities Commission," Rodney Hide said.

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