Access points finger at NZX

Wednesday 8 September 2004

The collapse of Access Brokerage has sparked a vicious dispute over stockmarket regulation between the firm's owner and the New Zealand Stock Exchange (NZX).

By The Landlord

Speaking to the Business Herald yesterday, Access' 90 per cent-plus owner Bill Garlick suggested NZX bore some responsibility for the failure.

"One has to look at whether the regulator fulfilled its obligations in Access' case," he said.

His arguments were strongly rebuffed as "out of line" by NZX chief executive Mark Weldon.

"Mr Garlick is blatantly attempting to shift the focus away from himself, the firm he was associated with and the clients who have lost money," he said.


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