David Jackson quits Securities Commission
David Jackson has resigned as a member of the Securities Commission - effective immediately - in the wake of civil proceedings being filed against him for his role as a director of Nuplex.
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David Jackson has resigned as a member of the Securities Commission - effective immediately - in the wake of civil proceedings being filed against him for his role as a director of Nuplex.
The Securities Commission said yesterday it was to file civil proceedings against Nuplex and certain current and former director, including Mr Jackson, for alleged breaches of its continuous disclosure obligations.
A statement of claim is due to be lodged in the High Court at Wellington this morning.
Nuplex is listed on both the New Zealand and Australian stock exchanges.
Commerce Minister Simon Power received Mr Jackson's letter of resignation shortly after the commission issued its statement regarding its intention to issue proceedings but only made the announcement this morning.
Because the matter is now before the courts, the minister will not comment further.
Mr Jackson was appointed by the previous government as a member of the Securities Commission on 8 June 2005.
The commission is seeking declarations of contravention, pecuniary penalties and compensatory orders. The commission alleges that Nuplex breached its continuous disclosure obligations under the NZX listing rules and Securities Market Act 1988.
NBR staff
Wed, 14 Apr 2010
Wed, 14 Apr 2010
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David Jackson quits Securities Commission
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