Library of Congress

Law Library of Congress

The Library of Congress > Law Library > News & Events > Global Legal Monitor

New Zealand: Securities Prosecution to Be Funded

(June 2, 2008) It was announced on May 21, 2008, that the New Zealand government is implementing amendments to permit the use of the Securities Commission's Litigation Fund for criminal prosecutions (under the Securities Act) brought against finance companies that have misled investors. Previously this fund could only be used in relation to civil litigation. The amendment is likely to increase the number of criminal prosecutions undertaken and speed up those that are undertaken. (Press Release, Minister Lianne Dalziel, Government Fund to Speed Up Finance Company Prosecutions (May 21, 2008), New Zealand Government Beehive Web site.)