INDEPENDENT NEWS

Insider Trader to Resign Board Positions Shortly

Published: Thu 23 Nov 2000 04:20 PM
Paul Hyslop, the Wilson Neill Ltd director at the centre of Fletcher Challenge Paper insider trading scandal, is expected to resign most if not all of his directorships within the hour.
Hyslop is in conference with his Auckland lawyers, Barker Hunt, this afternoon after the High Court this morning ended interim name suppression granted after the NZ Herald sought to name him.
A Securities Commission report found that Hyslop, a director of Wilson Neill since December last year - meaning that the Securities Commission was already investigating him by the time he joined the board of the publicly listed company - had profited by up to $40,000 after he found and copied a confidential internal Fletcher Challenge memo detailing a planned merger between Fletcher Paper and its Canadian paper interests.
The Securities Commission decided not to prosecute Hyslop, whom it identified only as EF in its report, released on Monday.

Next in Comment

Boris Johnson At Sea: Coronavirus Confusion In The UK
By: Binoy Kampmark
Foreign Correspondent: Rightwing Populism Will Make You Sick—Really
By: Reese Erlich
Dunne Speaks: Early Voting Is OK, If You Know Who To Vote For
By: Peter Dunne
Biodiversity: Where The World Is Making Progress – And Where It’s Not
By: The Conversation
On The Recession, And On Trump’s Current Chances Of Re-election
By: Gordon Campbell
Rogue Poll Or Not, All The Signs Point To A Tectonic Shift In New Zealand Politics
By: The Conversation
The Coronavirus Republic: Three Million Infections And Rising
By: Binoy Kampmark
Altars Of Hypocrisy: George Floyd, Protest And Black Face
By: Binoy Kampmark
View as: DESKTOP | MOBILE © Scoop Media