New Zealand Exchange Limited v Bank of New Zealand, Access Brokerage Limited (in liquidation) and Deloitte Touche Tohmatsu - SC 13/2008

Civil – appeal from strike-out application – second respondent in liquidation, first and third respondents brought actions against NZX in contract and tort - whether the Court of Appeal was correct to conclude that NZX owes personal duties of care to individual clients or to individual brokers, to protect each of them from economic loss due to broker’s dishonesty or negligence in relation to client funds held on trust – whether the Court of Appeal was right to find that the breach of such a duty (if owed) is sufficiently legally causative of loss – whether the Court of Appeal was correct in holding that the Securities Commission is the “primary regulator” of the New Zealand Stock Exchange, and not NZX.2008] NZCA 25 CA236/06 22 February 2008