REPORT ON QUESTIONS ARISING FROM AN INQUIRY INTO TRADING IN THE SHARES OF FLETCHER CHALLENGE LIMITED IN MAY 1999
SECURITIES COMMISSION
WELLINGTON, NEW ZEALAND
TABLE OF CONTENTS- THE COMMISSION'S INQUIRY
- EVIDENCEPART 2 - REVIEW OF EVENTS AND SHARE TRADING
- BACKGROUND
- FCL'S COMPUTER SYSTEM
- SEQUENCE OF EVENTS
- EFFECTS
- SHARE TRADINGPART 3 - APPLICATION OF THE LAW
- SECURITIES AMENDMENT ACT 1988
- INSIDE INFORMATION
- LIABILITY AS INSIDERS
- HYPOTHETICAL QUESTIONS
- INSIDER TRADING CONCLUSIONS- LIABILITY FOR TIPPING
- SECONDARY INSIDERS - THE "LENGTH OF THE CHAIN"
- RECEIPT IN CONFIDENCE
Appendices