 |
|
 |
|
22 January 2008
News release
Guide to new securities law
The guide New securities law for investment advisers and market participants 2008 will be posted out next week to people who have ordered copies.
The book is a guide to the new requirements under the Securities Markets Act which come into force on 29 February 2008. It is currently available in electronic form at http://www.seccom.govt.nz/ and http://www.newsecuritieslaw.govt.nz/.
The guide explains changes to the law relating to:
- disclosure that investment advisers and brokers must make to their clients about themselves, their fees and commissions, and the types of investments they give advice on;
- insider trading; and
- disclosure of changes to holdings by substantial security holders.
It also explains the new law about market manipulation - that is, behaviour or practices likely to give a false or misleading impression about the supply, demand, price or value of securities traded on a registered exchange.
These changes to the law arise from the passing of the Securities Legislation Bill in 2006.
To order a hard copy of the guide go to http://www.newsecuritieslaw.govt.nz/contact/.
Ends
Contact: Catherine Chapman, phone 04 471 7659