Browsing by Author "Radburn, Crosby"

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Open Access
Deposit insurance: Friend or foe?
(Te Herenga Waka—Victoria University of Wellington, 2016) Radburn, Crosby
Following the Global Financial Crisis many governments have undergone reform to ensure stability in financial markets. One mechanism adopted throughout many jurisdictions is deposit insurance. The Reserve Bank of New Zealand has chosen not to adopt such regulation. This essay criticises this decision. The current regulatory framework leaves depositors vulnerable to losses upon bank failure. Upon bank failure recovery is largely subject to the discretion of the Minister. This provides uncertainty in the markets, and consequently aggravates the risk of banks runs and a contagion risk. Adopting a suitably designed deposit insurance scheme will remove this uncertainty, create confidence, and increase the stability of the banking sector.
Open Access
The Financial Markets Conduct Act 2013: How accessible is accessory liability
(Te Herenga Waka—Victoria University of Wellington, 2015) Radburn, Crosby
With the enactment of the Financial Markets Conduct Act 2013, New Zealand’s securities law has been revolutionised. This essay focuses on the introduction of accessory liability for any person “involved in a contravention” under s 533. Historically the standard for civil accessory liability has been unclear, with New Zealand currently using two different approaches. This article reviews relevant cases from Australia and New Zealand and forms a view on the appropriate standard for liability under s 533. To assess the reach of s 533, the conclusions are then tested by application to three previous cases.