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


Discussion documents on insider and securities law

31 May, 2002 Media Statement

Release of discussion documents on insider trading and other areas of securities trading law

Commerce Minister Paul Swain has welcomed the release of three discussion documents setting out options for fundamental reform of New Zealand’s securities trading law.

One of the Government’s goals is to see more people investing in the local market - that’s how businesses can access the capital they need to grow. We need to make sure we have a regulatory framework in place that investors have confidence in. The framework would see investors treated fairly and provided with adequate protection should things go wrong.

“The right regulatory framework can help encourage investment and enhance the market’s performance – as such it’s an important contributor to the Government’s goals for our economy.

“The first two stages of the Government’s programme of reform to toughen up our securities law and improve confidence in the market are well underway. The Takeovers Code has been implemented. The Securities Markets and Institutions Bill is currently being considered by the Finance and Expenditure Committee and is due to be reported back shortly.

“The release of these discussion documents represents the next important step in the process,” said Mr Swain.

The discussion documents contain:

A first principles review of insider trading law: This looks at the definition of insider trading and examines various policy justifications for regulating against insider trading. It also explores how an insider trading regime can best meet and promote these policy objectives.

A review which considers New Zealand’s existing market manipulation law: This looks at whether the government should do more to prevent market manipulation and what forms of market manipulation should be banned.

A review of which financial products and entities should be covered by New Zealand securities trading law and what penalties and remedies should apply: In particular, it considers what improvements could be made to civil and administrative remedies for breaches of the law and whether criminal and civil penalties regimes should be introduced.

Anyone wishing to comment on the discussion documents may do so by making a written submission. The closing date for submissions is Friday 30 August 2002. Interested parties should contact Kathy James on (04) 474 2668 or by email on if they wish to receive a hard copy of the discussion document. The documents are also available on electronic copy at:

© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Ardern Speech: Justice Summit Opens

If we want to talk about an effective justice system, we shouldn’t start with a discussion about prisons, but a discussion about New Zealand...

We believe in a ‘fair go’. We are fair minded and like to give people a chance. Ensuring everyone is treated fairly is part of the fabric of our culture.

And equally, we are defined by what we don’t believe ourselves to be – and we certainly don’t feel like the kind of place that would have one of the highest incarceration rates in the western world, and yet we do. More>>


Christchurch Quake: New Red Zone Payment For Uninsured

The Government will pay former residential red zone owners 100% of the 2007/08 rateable value for uninsured homes, Minister Megan Woods has announced today. More>>


Gordon Campbell: On MP Pay And The REAL P.C. Danger Zone

There has never been anything remotely credible about the way parliamentarians would paint themselves as the helpless victims of the Remuneration Authority when it came to their pay increases... More>>


Repatriation: Remains Of NZ Service People Return Home

Prime Minister Jacinda Ardern and Minister for Veterans Ron Mark say they were honoured to be with the families of service personnel as they welcomed their loved ones home. More>>


Cop Shop Top-Up: 1800 New Police Through NZ

Police Commissioner Mike Bush has today confirmed further details around the allocation of the 1800 additional officers, following a $298.8 million increase for Police in Budget 2018... “These 1800 officers, alongside 485 support staff, will really enhance our work to keep people safe, and ensure they feel safe,” says Mr Bush. More>>


Human Right Commissions: Concern On Aged Care And Consent

A new report published by the Human Rights Commission raises concerns about the legal and human rights safeguards for an estimated 5000 elderly New Zealanders in secure dementia units and psychogeriatric facilities. More>>


Greens AGM: Leadership Stands Firm On Waka Jumping Bill

The Green Party leadership have dug in their heels and will not be reversing any of the decisions they have made in government. Former MPs Jeanette Fitzsimons and Sue Bradford had hoped the caucus might be persuaded this weekend to pull its support from the waka jumping bill. More>>


TOP Still Going, Actually: New Leader For Opportunities Party

New leader Geoff Simmons' aim as the leader of TOP is to take the party into Parliament at the next election where it can advocate and implement progressive reform in areas including fair taxation, cannabis legalisation, affordable housing, and environmental protection. More>>


Gordon Campbell: On Another Reason To Loathe HR Departments (And On The Teachers Strike)

This morning’s news item about Police emergency call centre staff turning up for work while they’re sick – because they’re afraid their sick leave statistics will be used against them, and their jobs put in jeopardy – is not an isolated case... More>>




Featured InfoPages