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New securities law for investment advisers

03 December 2007

New securities law for investment advisers and market participants from 29 February 2008

The Minister of Commerce, Hon Lianne Dalziel, today announced that changes to securities law made when the Securities Legislation Bill was passed in October 2006 will come into force on 29 February 2008.

The changes include new law on market manipulation and new disclosure requirements for investment advisers. There are also changes to insider trading law and disclosure by substantial security holders.

The Securities Commission is preparing a Guide to New Securities Law 2008 which explains these changes. This is expected to be available electronically from www.newsecuritieslaw.govt.nz before Christmas. Hard copies of the Guide can be ordered for delivery in the new year by registering on www.newsecuritieslaw.govt.nz

… ends ….

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