Originally Posted by
Silverlight
Opinion:
Pimie facie it looks if Aorangi has breached the Securities Act, however I think Mr Hubbard comes across very much like a modern day Jimmy Stewart (George Bailey), where the laws of the land have been updated and amended around him, and he now finds out that his non compliance may cost dearly.
I think overarching this is a push from the Securities Commission et al (Diplock), to make themselves look good at catching white collar criminals before they get repleced at the end of this year by the new Financial Markets Authority (FMA), as they have been too lazy for the last 15 years anyway, and all have to re-apply for their jobs.
We have never prosecuted anyone for Insider Trading though the courts or Market manipulation, 1 case, in 20 years, tranzrail was settled.