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R v Talbot [2019] NZHC 773

09 April 2019

Decision

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Summary

The defendant appears for sentence after pleading guilty to a representative charge of failing to disclose a relevant interest contrary to s 19ZD of the Securities Markets Act. There have been no other prior prosecutions under s 43A(1).
HELD: Conviction entered on the representative non-disclosure charge, and the defendant ordered to pay a fine of $12,000. A starting of $15,000 was adopted (the maximum penalty is $30,000); non-disclosure is of material seriousness. The abuse of position of trust and authority, the extent of the offending, and the period over which the offending occurred (8 breaches in just over a year) were all aggravating factors. A 10 per cent discount was applied for previous good character, while a further 10 per cent was applied in recognition of the defendant's guilty plea.


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