New securities laws start in Feb

Changes to securities law made when the Securities Legislation Bill was passed in October 2006 will come into force on 29 February. The changes include new laws on market manipulation and new disclosure requirements for investment advisers.

There are also changes to insider trading law and disclosure by substantial security holders.

The Securities Commission is preparing a Guide to New Securities Law 2008 which explains the changes. It is expected to be online at newsecuritieslaw.govt.nz before Christmas.