22 Feb 2008
BANK OF NEW ZEALAND AND ANOR V NEW ZEALAND EXCHANGE LIMITED AND ANOR CA CA238/06
- Citation
- openlaw-af77efa7_4572_4ca7_9d82_89e82fa0ae67.pdf
- Court
- Court of Appeal
NZX is primarily a commercial exchange with regulatory functions but not a pure public regulator; the inspection regime has a significant purpose of protecting broker clients (trust and liquidity requirements) so it is at least arguable that NZX owed private law duties in negligence and contract; factual issues including causation and attribution are unresolved and therefore claims should not have been struck out and must proceed to trial.