Author: Yvonne Parlane

From 1 July 2018, the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (“Act”) applies to Malloy Goodwin Harford and other New Zealand law firms. To date, this legislation has mainly affected banks and investment advisers.  As from 1 July, it will apply to most New Zealand law firms including ours. As from 1 October this year it will apply to accountants, and as from 1 January next year it will apply to real estate agents. The principal purpose of the anti-money laundering legislation is to increase the likelihood of the detection and deterrence in New Zealand of money laundering and...

Recently enacted changes to the Commerce Act 1986 significantly extend the scope of what can be considered to be cartel conduct prohibited by the Commerce Act. Common, and often pro-competitive, commercial arrangements will be subject to greater scrutiny. This is particularly true of distribution arrangements and joint ventures. There are limited exceptions for certain collaborative activity and for certain provisions in vertical supply contracts. Previous proposals for criminalisation of cartel conduct were not ultimately adopted. However, the consequences of breach are still severe. They include potentially large pecuniary penalties, exposure to damages and the unenforceability of contracts. Core Prohibition The previous prohibition on price...