NZ Government meets Australian Consumer Advocate
NZ Government meets Australian Consumer Advocate, Denise Brailey
MEDIA RELEASE 13.06.08
Unacceptable Financial Activities Inc Soc)
Representing Government’s response to the finance industry crisis the Minister of Commerce, Lianne Dalziel welcomed a meeting with Australian Consumer Advocate, Denise Brailey arranged by Exposing Unacceptable Financial Activities [EUFA] in Hamilton yesterday.
Ms Brailey gave the Minister a broad briefing on the actions taken in Australia to expose and prosecute the vile practices of the finance and investment industry models of deceit that have been mirrored here in NZ.
The Minister confirmed she will be meeting with the Minister of Justice to discuss the provision of Government funding.
EUFA representative at the meeting, Gray Eatwell said from Tauranga today “We applaud the Government acknowledgement of the fundamental right of victim's - to be provided with the ability to avail themselves of an effective remedy through the justice system”
EUFA remains concerned at the Government approach relating to the level of sophistication of investor's and of the bearing this has on the case.
EUFA's emphasis is on the Government responsibility and liability for allowing the dishonest practices to go unchallenged. Coordinator of EUFA Suzanne Edmonds said “ In the Australian experience the lack of compliance enforcement of the finance industry has led to this disaster, the Government have a clear liability to remedy this situation”
Although the Minister has a clear understanding of the issues involved, particularly with BlueChip, EUFA remains steadfast on the urgency of freezing the recovery action against the victims until all investigations are completed.