Friday, 27 November 2015

Unless the Americans invade or we elect communists

Glenn Boyle, who helped set up iPredict, emails:

When we were setting iPredict up between 2005 and 2008, all the holdups were technological and financial, not regulatory.  Liam Mason and others at the Securities Commission were generally helpful and tried to eliminate roadblocks rather than put them in our way, and there certainly didn't seem to be any impediments thrown at us by ministers.

I recall the money laundering bogeyman coming up only once, and then only in jest.  I don't remember the exact wording, but it was something along the lines of "you'll probably get hit with money laundering charges if the Americans invade or we ever elect a communist government."  Ouch…

This wasn't taken seriously at the time though.  Looking back through all the various memos etc I prepared during the 3+ years iPredict was being set up, I can't find any reference to money laundering regulation at all.  I guess we were naive!
There seem to be more than a few people who reckon Lianne Dalziel did a far better job on this stuff under the prior Labour government than we've seen under National.

1 comment:

  1. Your country is well inside the asylum on many things