Fleming v Securities Commission - [1995] 2 NZLR 514

Tort — Negligence — Duty of care — Newspaper publishing advertisement for securities in breach of Securities Act 1978 — Further advertisements appearing after newspaper's contrary assurances to Securities Commission — Offeror not contacted or prosecuted by commission — Whether commission has duty of care to potential investors to prohibit advertisements in breach of Act — Whether newspaper has duty of care to ensure advertisements complied with Act — Securities Act 1978, ss 28 and 63 — Securities Regulations 1983 (SR 1983/121), reg 17.

Tort — Negligence — Causation — Newspaper permitting advertisement for securities in breach of Securities Act 1978 — Further advertisements appearing after newspaper's contrary assurances to Securities Commission — Offeror not contacted or prosecuted by commission — Investments lost after offeror went into liquidation — Investors alleging breaches of duties of care by newspaper and Securities Commission — Whether advertisements material or substantial cause of investors' losses.