Another reason to invest in property

[CJ]

http://www.nzherald.co.nz/business/n...0627322&pnum=0

http://www.nbr.co.nz/article/allied-...-nzx-50-118840

Sharemarket operator NZX has been caught out operating a two-speed information regime that favours institutional investors over mums and dads as it botched a decision over whether Allied Farmers should be promoted to the NZX-50.

How can mums and dads have confidence in the market when this happens. What makes it funny though is that because of the botch up, it is probably just institutions that got hurt this time as their 'inside information' was wrong.

[PC]

The "productive" industry - very busy robbing suckers.
Walk, talk and act like crooks, but lobby very well.

Is there no consumer/investor watchdog in NZ?
Or is it just completely toothless and incompetent?

[CJ]

NZX is meant to be one of the investor watchdogs!

[Keithw]

I think the answer is toothless and incompetent & vested interest

[VincyV]

Insider Knowledge trumps mom and pop -- again.

Allied Farmers had dropped from 26 to about 10 cents since the Hanover deal in Dec.

NZX's screw-up provided a opportunity for a 20% profit in a week as the price jumped by 2c and then dropped back.

How can the PI community, or any other investors that are being asked to invest in the sharemarket by Key, English and the TWG, be sure that there was no hanky panky going on ?

NZX in its dual role as market regulator and market operator sure as hell cannot be trusted to find fault with itself ,and fine itself - can it ?

Teflon Weldon will not take responsibility and screw up his bonuses. Some shmuck in NZX is going to get sacked for the mistake. Hope the schmuck gets well compensated by the people that made money due to the event.

Or if you want to go into conspiracy theory mode--were those who made money in cahoots with the shmuck making the "innocent mistake".

Wish you could see list of who's whos hiding behind the custodial and nominee companies making up the largest shareholders listed in the Annual report of the private company called NZX ?

[essence]

Wish you could see list of who's whos hiding behind the custodial and nominee companies making up the largest shareholders listed in the Annual report of the private company called NZX ?

If they're listed on the companies office website, why not post the links here. It's public knowledge anyway.

[VincyV]

Because, for example the following is the top NZX shareholder listed on the company register.

Number of Shares 7,986,369 Shareholder(s) 644859 - NEW ZEALAND CENTRAL SECURITIES DEPOSITORY LIMITED 2 The Terrace, Wellington

The Depository company does not own the shares itself. It is simply holding shares on behalf of some one else. No easy way to find out whose (individuals or companies) shares make up those 7,986,389 shares.

Note that there are also a few direct shareholders on the list like:

Number of Shares 800,000 Shareholder(s) BABBAGE, Nigel Charles Harrison
BABBAGE, Philippa Anne

[PC]

Slap them hard with that wet bus ticket!
That'll teach 'em. Ha Ha Ha

NZX boss Mark Weldon has made two important concessions in the wake of this afternoon's confirmation by the Business Herald that the Securities Commission will investigate trading in Allied Farmers shares....

http://www.nzherald.co.nz/personal-f...ectid=10627809

[flyernzl]

The taxpayer-funded Commerce Commission apparently sees their place as protecting the large corporates from the public.

Looks like the Securities Commission sees itself in a very similar role.

[Perry]

Perhaps those who have not already written
to any key or grammatical politicians could
add this debacle as part of their tome?
.