All the moaning about the Securities Commission being a bunch of useless layabouts has finally paid off with the release of this truly depressing communiqué.

The directors of collapsed Dominion Finance and North South Finance have entered not guilty pleas in the Auckland District Court to charges they misled investors.

Hanover Finance has called in the lawyers to pursue Allied Farmers over allegedly attempting to "evade various contractual obligations to Hanover."

The Securities Commission has nearly completed their inquiry into the Hanover Group and may lay criminal charges in the new year.

The Securities Commission has added its weight to the Reserve Bank's call for mum and dad investors' to be cautious about new private equity property investments.

Last week's story on the SFO has prompted a response from former director David Bradshaw.

Two firms caring for the disabled asked to be put under statutory management as they could not afford the potential $176m liability of a requirement to pay sleeping workers.

Simon Botherway, accused of a conflict of interest in the Hubbard case, had no operational role in putting him into statutory management, says the Securities Commission.

An Ernst & Young audit partner has been found guilty of accounting breaches and ordered to pay $150,000 in costs after approving Feltex's books.

"Many mum and dad investors have lost large sums of money because of the poor investment advice they've received," blurted Simon Power.