The 1987 crash led to a tightening of stock market rules on the part of both government and the New Zealand Stock Exchange itself. The exchange established the Market Surveillance Panel in 1989 as an independent body of brokers, accountants, lawyers and company directors. Its role was to make sure all listed companies complied with listing requirements and to investigate dubious practices. The 1992 panel were (standing from left): Brian Kreft, Colin Giffney, Philippe Leloir (secretary), Charles Bolt and John Anderson, and (seated from left): John Hagen, Stephen Franks, Barry Lindsay, Norman Johnston, David Sadler and Kevin O’Connor (chair).
Courtesy of NZX
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