New Zealand’s proposed Financial Markets Authority would have power to litigate

The proposed legislation to set up the Financial Markets Authority (FMA) would create a new right for the "super-regulator" to initiate or take over legal proceedings against financial markets participants on behalf of investors.

The provision is modelled on Australian law.
This article compares the New Zealand approach with the Australian model and looks at the lessons to bedrawn from the Australian experience.
Click on the link above to view.
This article was first published in the December 2010 issue of BNA International's World Securities Law Report.

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Related topics: Securities; Securities law reform; Financial Markets Authority

Litigation & dispute resolution; Financial services regulation

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