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NCJRS Abstract

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NCJ Number: 122830 Find in a Library
Title: Insider Trading: Report to the Minister of Justice by the Securities Commission
Corporate Author: New Zealand Securities Cmssn
New Zealand
Date Published: 1987
Page Count: 203
Sponsoring Agency: New Zealand Securities Cmssn
Wellington, New Zealand
Type: Legislation/Policy Analysis
Format: Document
Language: English
Country: New Zealand
Annotation: This two-volume report recommends changes in New Zealand's laws dealing with insider trading in securities.
Abstract: Volume one of the report enumerates and discusses the legal and economic theories justifying regulation of insider trading, defines terms, and proposes sanctions and remedies. Specific legislative recommendations include requiring that substantial shareholders report their holdings, confering the right to sue for compensation on those who suffer losses from insider transactions, disqualifying insider traders from holding offices in their companies, and revoking stockbrokers' licenses when they have traded as insiders. Additional proposed legal remedies include class action legislation. The second volume of the report contains footnotes to the text of the report (volume one), the New Zealand Stock Exchange Guidelines for Securities Transactions by Directors of Companies, extracts from securities legislation enacted in Australia, Canada, Great Britain, and the United States, and a bibliography.
Main Term(s): Insider trading; Securities fraud
Index Term(s): Commodities fraud; Legislation; New Zealand; White collar crime
Note: Text and Recommendations for Legislation found in Vol. 1. Footnotes and Appendices found in Vol. 2.
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