NZX advises on disciplinary process

19 October 2004 – New Zealand Exchange Limited (NZX) today released a summary document which gives details on the timing and actions involved in each stage of an NZX inquiry where there may have been a breach of the NZX Participant Rules.

This document is being released so all interested parties can gain a clearer understanding of the process involved in an NZX inquiry, particularly as it relates to the collapse of Access Brokerage Limited.

NZX is currently in the investigation stage, which involves identifying and sourcing the information it requires to bring a statement of case to NZX Discipline. Full details on this, and subsequent, stages in the process are contained in the document downloadable at www.nzx.com/regulation.

NZX is working closely with other agencies, specifically the liquidators, Michael Stiassny and Brendon Gibson of Ferrier Hodgson, the Serious Fraud Office and the Securities Commission throughout its investigation.

For more information, please contact:

Rowan Macrae
Corporate Affairs
New Zealand Exchange Limited
04-496-2874
027-472-7599